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.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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