Mahindras win bid for Satyam
Tech Mahindra, India’s sixth-largest software exporter, on Monday won the race for a 31% stake in embattled Satyam Computer Services for Rs 1,756 crore, at a bid price of Rs 58 a share.
Venturbay Consultants Private Ltd, a 100% subsidiary of Tech Mahindra, a part of the Rs 33,500-crore Mahindra Group, will acquire over 30 crore shares in Satyam for the 31% stake and an additional 20% through the mandatory open offer to the public.
The Satyam board will now recommend the winner to the Company Law Board for its approval.
The acquisition would catapult Tech Mahindra into the big league of IT services companies, with the likes of Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies.
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To read the ePaper, visit: http://epaper.financialexpress.com
Venturbay Consultants Private Ltd, a 100% subsidiary of Tech Mahindra, a part of the Rs 33,500-crore Mahindra Group, will acquire over 30 crore shares in Satyam for the 31% stake and an additional 20% through the mandatory open offer to the public.
The Satyam board will now recommend the winner to the Company Law Board for its approval.
The acquisition would catapult Tech Mahindra into the big league of IT services companies, with the likes of Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Labels: company law board, it services companies, Mahindra group, mahindra win bid for satyam, Satyam Computer Services, tech mahindra, venturbay consultants private ltd
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11:07 AM
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