Author Name: Anurag Bhullar
Satyam Computer Services, one of the leading IT services company in India is planning to buy an ownership stake in Maytas Infra Ltd. for a sum of 300 million US dollars. The Hyderabad-based construction and infrastructure company (Maytas Infra) is a valuable proposition for Satyam for diversification from its core line of business.
In an announcement made on Tuesday, the company said that it would acquire a 31 percent shares at a price of Rs 475 per share from the promoters and for another 20 percent it would make an open offer at a share price of Rs 525 per share.
The promoters are holding a 36 percent stake in Maytas Infra Ltd. as estimated on September 30, 2008. The BOD’s of Satyam Computers have already given their consent regarding the 100 percent acquisition in Maytas Infra.
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