Videocon Industries Look to Sell Stake

India’s Videocon Industries is looking to sell a 25% stake in its direct-to-home broadcast services business for roughly $75 million to $100 million. The company has hired UBS to help it find an investor, and is reportedly in talks with private equity firms, Reuters wrote Friday. Potential investors include ICICI Venture.

(Reuters) – India’s Videocon Industries is looking to sell a 25 percent stake in its direct-to-home broadcast services business for roughly $75 million to $100 million and is in talks with private equity firms, people with direct knowledge of the matter said.

Potential investors in the unit, branded D2H, include ICICI Venture, the private equity arm of No. 2 Indian lender ICICI Bank , sources said. Videocon has hired UBS to find an investor, sources said.

Videocon and ICICI Venture declined to comment. UBS officials could not be reached for immediate comment. (Reporting by Indulal P.M., Rajesh Kurup and Abhishek Vishnoi; Editing by Tony Munroe)