Monday, 12 January 2009
Satyam for the day
On December 16, 2008, after the markets closed, Satyam had announced a buyout of Maytas Properties and Maytas Infra. Satyam was planning to pay USD1.6 billion all together, USD1.3 billion for the entire equity of Maytas Properties and USD300 million for a 51% equity stake in Maytas Infra. The markets reacted very negatively and investors rebelled. The transaction was called off. Now if it turns out that Maytas Infra and Maytas Properties were both built using money siphoned off Satyam, the government may end up transferring the shares or assets of these companies to Satyam. If Satyam is to survive, it will do so as a Infrastructure/Realty company!