daewoo-electronics-on-the-block-again

Daewoo Electronics on the block again

Daewoo Electronics is put up for sale a second time as the Videocon-Ripplewood bid fails, highlighting some of the risks in the M&A advisory business.
Creditors of Daewoo Electronics, who own a controlling interest in the Korean company, are once again looking for a buyer for the business. The lending group failed to close a deal with the Videocon-Ripplewood consortium which won the earlier round of bidding in October 2006, with an offer in the range of $750 million.

Neither the buy- or sell-side have clarified exactly why the winning consortium will not be moving forward with its bid, although, at various stages over the last year, information that the discussions were not progressing smoothly has been released.

Videocon is a leading Indian consumer electronics player. It bid with Ripplewood, a US private equity firm with a focus on buyouts....
¬ Haymarket Media Limited. All rights reserved.

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