Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

India's VideoCon to Take Over Daewoo Electronics
Sep 11, 2006
 Printable format
 Email this Article
 Search

A consortium led by India's Videocon Industries and the U.S. fund Ripplewood Holdings was selected as the primary bidder to buy Daewoo Electronics. If successful, it will be the largest foreign capital take over of a Korean manufacturing firm since Shanghai Auto's acquisition of Ssangyong Motor in 2004.

According to a Korea Times report, Videocon can become the new owner of Daewoo as early as December after 2 months of due diligence, said Park Ki-hoon of Woori Bank, one of Daewoo's main creditors. Korean equity firm MBK Partners was named as the reserve bidder.
Daewoo Electronics is a former unit of the Daewoo Group, which collapsed in 1999 under debts totaling U.S. $80 billion. It is now the third-largest maker of consumer electronics in South Korea after Samsung Electronics and LG Electronics.

The creditors said it had no choice but to pick a foreign firm as the preferred bidder, despite concerns of technology leaks.

Daewoo operates six plants in South Korea and 18 overseas units, including manufacturing facilities in Mexico, Poland, Vietnam and China. Its assets totaled 1.65 trillion won at the end of last year.

Back to Daily News

 

Daily News

...........................................................

Sep 12, 2014: AHRI Suggests Changes to EPA on Proposed SNAP Amendment

Sep 12, 2014: Consumer Confidence Index Up in August

Sep 12, 2014: August 2014 Housing Starts in Canada

Sep 11, 2014: Middleby Acquires Commercial Coffee Machine Producer Concordia

Sep 11, 2014: Electrolux Again Ranked Industry Leader in the Dow Jones Sustainability World Index

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows