Apax-backed iGate plans to take Patni private
Apax Partners-owned iGate plans to buyout Patni Computer Systems’ minority shareholders and delist the company from the Bombay Stock Exchange, National Stock Exchange of India and the New York Stock Exchange. The purchase will be funded through a debt facility of about $215 million.
iGate's starting offer is INR356.74 per share, which means the privatization will cost at least $151 million, The Wall Street Journal reported. This represents an 8.2% discount to Patni's closing price...
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