Overseas investor Lazard Asset Management LLC has liquidated 35.74 million shares of fraud-hit Satyam Computer Services. The global investor offloaded the stake through open market deals on January 15, according to the IT major’s filing with the FreePress.
The stake sale works out to 5.3% of the equity of Satyam. Lazard stated that the shares belonged to the clients of the asset management company.
Foreign investors who have liquidated their holding in the beleaguered IT major include Aberdeen and Swiss Finance Corporation.
On the other hand, Fidelity, JP Morgan, Life Insurance Corporation and ICICI Prudential Life Insurance continue to hold a stake in Saytam.