US Based Elliott Management Corp Divests Patni Computers' Stake
by Irfan Khan
New York-based hedge fund Elliott Management Corp has divested 10.46% stake in @Patni_Computer Limited for about R700Cr.
Elliot, which manages assets worth $17 Bn, bought Patni stock through its Mauritius registered investment arms, Mansfield Ltd and Suffolk Ltd, which made some 70-odd transactions on BSE and NSE in November and December. Elliott has been buying small chunks of Patni Computer Systems since October.
With the Japanese interest tale continuing in the country, Panasonic Corporation is forming a 60:40 JV with Minda Industries to develop, manufacture and sell lead acid storage batteries in India with an investment of INR 1,600 Mn.
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