The Videocon Industries-led consortium has submitted a revised bid to the creditors of South Korean electronics major Daewoo Electronics for buying their stake in the company. The other strong contender for Daewoo’s assets is South Korean equity fund MBK Partners. Last month, the Videocon-led consortium had lost its preferred bidder status after the creditors of the ailing company rejected its proposal to acquire Daewoo for a lower price following due diligence as the Videocon consortium had asked for a 13% discount on the initial bidding price of $730 mn to acquire a 97.5% stake in the company.
Read the Business Standard article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment