IIPM

Videocon, a company that has been largely promoted as an Indian Multinational, has appointed Pricewaterhouse Coopers (PWC) to negotiate its investments in North America. The company is interested in acquiring the LCD manufacturing plant of digital imaging and electronics major Polaroid, which is a subsidiary of Petters Group worldwide. The deal between PWC and Videocon is valued at $200 million. The move to appoint PWC also reflects Videocon’s intentions to get a stronghold in the North American market, which is a very crucial junction for any multinational. The acquisition would mark the formal entry of Videocon in the imaging business both globally and in India.

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Source: Publication, IIPM