The Videocon group has bought the colour picture tube (CPT) business of the France-based Thomson SA for Euro 240 million, in a deal which would be the single largest overseas attainment ever by an Indian company in the consumer electronics sphere. It would also be one of the biggest deals involving acquisition of manufacturing assets outside India. The current deal will involve four CPT plants of Thomson one each located in Poland and Mexico, while two in China.
For the French company, it would mean an exit from the consumer electronics business globally with the CTV business being transferred as a JV with Chinese electronics major TCL last year and the disposal of the CPT business to Videocon.
The Videocon group, promoted by the Dhoot family, is making the acquisition through a newly formed entity, Eagle Corporation, which was also involved in the groups acquisition of the Italian picture tube plant of Thomson. Videocon acquired the Italian plant early this year on a standalone basis.