Videocon to buy out Daewoo Electronics

When contacted, chairman of Videocon group V.N. Dhoot did not comment on the acquisition. 8216;8216;We are still in talks,8217;8217; he said.

However, company insiders say the deal has been more or less finalised with Videocon now busy tying up funds for the deal. With a positive cash flow, the group will fund the acquistion from its internal accruals.

Daewoo Electronics, a former affiliate of now-defunct Daewoo Group, was separated from the group in 2002. It has plants all over the world and a significant presence in the North American markets.