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Videocon signs pact to buy Daewoo for USD 731 mn
The Videocon led consortium has signed a pact to buy Daewoo for USD 731 million. MD of Videocon, Venugopal Dhoot says that the deal will be finalised very soon and they will not have to go public to finance this.
The Videocon led consortium has signed a pact to buy Daewoo for USD 731 million.
MD of Videocon , Venugopal Dhoot says that the deal will be finalised very soon and they will not have to go public to finance this.
He adds that the details will be available after their meeting.
Excerpts from CNBC-TV18's exclusive interview with Venugopal Dhoot:
Q: If you can collaborate for us, it is USD 700 billion and have you indeed signed on the dotted line?
A: Yes, we have signed it. The Videocon based consortium entered into a preliminary agreement for the acquisition of Daewoo for USD 731 million, that is the news we have.
Q: What is the next step forward and when does the deal get finalised?
A: It will be finalised very soon.
Q: How soon will it be finalised?
A: That I will be able to let you know later.
Q: How are you looking at financing this buy out?
A: Financing is no problem, our balance sheet also had got sufficient money and we've got so many private equities, so that is not a problem.
Q: Will you be offering a follow-on public issue to raise this money?
A: We don't need to go public for this. We've already made a financing tie-up for that.
Excerpts from CNBC-TV18's exclusive interview with Venugopal Dhoot: 
