Petrocon to merge with Videocon

Videocon Industries will merge Petrocon India with itself and the valuation of shares and exchange ratio would be five shares of the company for every two shares held in Petrocon India Ltd.

Videocon Industries board in its meeting held on December 6, 2004, has approved the scheme of amalgamation of Petrocon India with itself.

The valuation of the shares together with the exchange ratio was determined and recommended by the valuers, according to a release issued to the Bombay Stock Exchange.