Budi Hartono Bids for Indian Company to Expand Electronics Business

By Editorial Team 21/11/2019
Topic

Indonesian billionaire, Robert Budi Hartono, is reportedly targeting a dying Indian company, Videocon Industries Ltd. The Djarum Group owner is said to be among the bidders who are competing to acquire Videocon under the framework of the Indian Insolvency and Bankruptcy Code, 2016 (IBC).

Citing The Economic Times, Budi Hartono, and seven other bidders have submitted their expressions of interest (EoI). Besides the Indonesian billionaire, the two others are fast-moving consumer goods (FMCG) firm Haldiram's and mining company Vedanta Limited.

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