Videocon Energy Ventures picks up 10% stake in Anadarko

Videocon Energy Ventures Ltd, an overseas wholly owned subsidiary of Videocon Industries Ltd, today bought 10 per cent stake in Anadarko Mozambique Area I Limitada, a Mozambique-based wholly owned subsidiary of US-based oil company Anadarko Petroleum Corporation, Videocon informed the stock exchanges.

Following the acquisition of the stake, the oil-to-consumer durables Videocon group will get an equivalent stake of 10 per cent in an oil block Anadarko in the African country.