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Satyam Sale Expected By Mid-April: Source

02 April, 2009
Financial bids for Satyam Computer will be put in by next week, three banking sources involved in the deal said on Thursday, and the  sale of the fraud-hit Indian outsourcer is likely to be completed by mid-April, another source with knowledge of the proceedings said. 
 
“By April 9 we have to put in the final and financial bids,” one banker directly involved in the deal told media. 
 
The company’s government-appointed board had said last month it hoped to finalise a buyer by April 30. 
 
“It is expected to be completed much earlier than that,” said another source, who is not allowed to speak to the media about the bidding process. “It should be completed in the next couple of weeks.” 
 

Engineering conglomerate Larsen & Toubro and mid-sized outsourcer Larsen & Toubro are among the suitors, and local media have said US private equity WL Ross & Co was also in the race. 


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Satyam Sale Expected By Mid-April: Source

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