Global diversified conglomerate, Hinduja Group has entered into a deal to acquire Belgian TV production company, Alfacam.

The UK based company has not announced the details of the deal. The acquisition will boost Hinduja Group's presence across the European region and the company will be able market content between various countries. Hinduja Group already has presence in banking, automobile, trading and media across various countries around the world.

Alfacam is a leading provider of TV services to broadcasters and production houses. It is known for broadcasting films and major sports and entertainment events. It was appointed to film the recent London Olympic Games and the European Football Championships in Poland and Ukraine.

The company began its fall in the begging of the previous year and it has lost 75 per cent of its value since then. Its huge losses have accumulated and the company is now under huge debt. According to reports, Hinduja Group has agreed to pay €24 million in repayment of Alfacam's debt and another _6 million as fresh investment in the company.

The deal has the backing of the Flemish government as it aims to turnaround the media giant.