July 2007
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Patni acquires Logan-Orviss

Patni Computer Systems, a Mumbai-based IT services provider, today announced the acquisition of Europe-based Logan-Orviss International (LOI), a leading independent specialist telecommunications consulting services company. The acquisition includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended 2006 with revenues of ¤11.8 million. […]

Temasek picks 4.99% in Airtel for $2 bn

In what may be the largest private equity deal in the country, Singapore government’s investment arm Temasek Holdings will acquire 4.99% stake in the country’s largest private telecom company, Bharti Airtel, as part of separate but possibly back-to-back transactions that will also see Vodafone selling 5.6% in the company. The net impact of these transactions will be that the shareholding of Bharti Enterprises, the holding company of India’s largest private telco, will rise marginally from its current 45% and the Temasek-Singapore Telecom combine’s holding (Temasek is the largest shareholder in Singtel) will go up to 36%. […]

Himatsingka picks up 80% stake in US firm

Textile design and manufacturing company Himatsingka Seide today said it has acquired 80 per cent stake in the US-based Divatex Home Fashions Inc, a distributor of bed linen products, for $53 million). The acquisition was carried out through Himatsingka Seide’s wholly-owned subsidiary Himatsingka America Inc. The enterprise value for the transaction was $75 million. “Himatsingka will continue to create and strengthen its manufacturing capabilities in India while enhancing its global distribution strengths through acquisitions,” Himatsingka Seide managing director, Mr Dinesh Himatsingka said. […]