Several companies interested in Satyam buyout

30 January 2009

Interest in the take over of Satyam has been increasing as the company is seen as stabilising under the aegis of the board of directors appointed by the government.

Tarun Das, a government nominee to the board and the chief mentor of the CII, said as many as seven suitors, including private equity players, were keen on taking over the management of Satyam Computer Services.

"So far we are aware of four (companies that have approached Satyam Computer). But we have heard that another two or three firms are also interested," Das said.

The Satyam board has appointed Goldman Sachs and Avendus Capital as investment bankers and mandated Boston Consulting Group to be its management adviser. These appointments are said to be a move aimed at evaluating in detail the offers made to Satyam.

The government has stated earlier that it is not interested in breaking up the company and selling it in parts.

Potential suitors
L&T has been in the race from day one. Even before Raju's confession led to mayhem, L&T was said to be funding Satyam albeit behind the scenes.