Videocon plans merger of two group companies
By Our Corporate Bureau | 06 Jul 2005
Mumbai: Videocon is planning to merge two of its group companies, Videocon Industries and Videocon International on the basis of advice given by the Development Bank of Singapore and ICICI.
As a result of the merger the combined market capitalisation of the two firms would come to around Rs9,600 crore. Videocon International markets consumer durables / electronics while Videocon Industries has interests in the oil/energy sector.
The France-based Thomson SA had recently acquired 14 per cent stake each in Videocon Industries and Videocon International for a sum of Rs1,280 crore.
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