Dhoot’s Videocon Plans Stake Sale in Energy Business
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Videocon Industries Ltd., India’s biggest consumer-electronics maker, plans to combine its energy assets and sell a stake in the business to help pay debt and fund purchases of oil and gas areas.
The company, led by billionaire Venugopal Dhoot, is in talks with investors including Chinese companies for the stake sale, said Suresh M. Hegde, the group’s finance chief. Aurangabad, India-based Videocon may also sell as much as 25 percent stake in the energy unit in an initial public offering within six months “to monetize oil and gas assets,” he said.