Daewoo puts rider for Videocon.
Economic Times (New Delhi, India), September, 2006
Byline: Rupali Mukherjee
Sep. 15--NEW DELHI -- South Korea's Daewoo Electronics has attached certain riders for its takeover by Indian consumer goods manufacturer Videocon. The Korean company has said that its research and development activities should not be shifted out of the country, but continue in Korea even after it is acquired.
Recently, Videocon Industries was picked up as the preferred bidder to buy Daewoo Electronics. A consortium consisting Videocon and Ripplewood Holdings, a US private equity fund, has reportedly offered $700 million for a 97.5 percent stake held by creditors that include Woori Bank and Korea Asset Management, a state-run agency. "Korea views India as a rival and does not want any R&D work to be done in India", sources...
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