Tech Mahindra bags Satyam

The telecom outsourcing company of the Mahindra group will pay around $580 million to acquire 51% of Satyam Computer, ending the saga of India's biggest corporate fraud.

Tech Mahindra has emerged the winner of an auction for control of Satyam Computer Services with a bid of $351 million for a 31% stake in the company. Tech Mahindra's total outlay, including an offer to minority shareholders that is capped at 20%, will be around $580 million.

Tech Mahindra will effect the acquisition through a wholly-owned subsidiary Venturbay Consultants. This structure was designed to ensure that the buyer's liability was limited to its equity contribution. Satyam is currently...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: tech mahindra | satyam | outsourcing

Print Edition

FinanceAsia Print Edition

EVENTS