Videocon Sells Chembur Land To Pepsi

The 15-acre plot at its Chembur premises will be used by Pepsi for setting up its second bottling plant in the city.

Videocon is now looking for a buyer for the remaining portion of the 35-acre premises.

The Dhoot-promoted group plans to raise nearly Rs 100 crore from the sale of this property, company sources said.

While a Videocon executive confirmed the sale for Rs 40 crore, a Pepsi spokesperson said the company had signed the acquisition deal at much less, around Rs 26 crore.

However, the company is yet to take possession of the site and is awaiting final clearances from the state authorities.