Videocon to buy Daewoo
Afp, New Delhi
India's biggest electronics firm VideoCon Industries signed an agreement Tuesday to buy debt-burdened South Korea's Daewoo Electronics for a reported 700 million dollars. Videocon had jointly bid with US-based equity fund Ripplewood Holdings for Daewoo Electronics, which produces a range of goods including TVs, air-conditioners and washing machines, and was put on the block by its creditors.
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