Videocon Industries’ board has considered the recommendations of the Re-Organization Committee on segregation of the International and Domestic Oil and Gas Business, by way of demerger, and accorded its in-principle approval to appointment of various agencies for working out detailed alternative schemes for unlocking the shareholders value.
The company’s board shall, out of the alternative schemes given by the agencies and recommended by the Re-Organization Committee, identify one scheme that suits best interest for unlocking shareholder value and subject to necessary approval of the Lender Banks and Financial Institution proceed further.
Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing & distribution of consumer electronics products and oil & gas extraction.
