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Videocon Industries exits from Liberty Videocon General Insurance Company

Capital Market 

Sells its entire 51.32% stake

Industries has sold its entire equity stake in General Company, an Joint Venture Company promoted by Industries and Group. The Company was holding 51.32% of the share capital of Liberty Videocon, which has been sold to the extent of 26% to Diamond Dealtrade (a DP Jindal Group Company) & the remaining 25.32% to

All the necessary regulatory approvals for the said sale were already received. Post the said divestment, the Company ceases to be the Indian Promoter of Liberty Videocon, and, accordingly, the name of Liberty Videocon will also change to 'Liberty General Insurance Company' or such other name as may be approved by the regulatory authorities.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 20 2018. 12:19 IST