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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (4216)	5/6/1999 7:24:00 AM
From: Mohan Marette	Read Replies (1) of 12475

India Birla buys out US firm's equity in JV-PTI NEW DELHI, May 6 (Reuters) - India's C.K. Birla group has bought the entire equity held by U.S.-based Computer Horizons Corp (CHRZ - news) in their joint venture Birla Horizons International, the Press Trust of India (PTI) reported on Thursday. ''Birla group bought the stake of Computer Horizons as the direction both the companies wanted to take for future growth, did not match,'' PTI quoted the company's chief executive officer, Anal Jain, as saying. The news agency did not give financial details of the purchase. Each of the two partners held 50 percent equity in the computer software firm before the buyout. PTI said the company's name has been changed to Birlasoft after the share purchase. It quoted Jain as saying that Birlasoft had set a turnover target of $200 million in the next five years. biz.yahoo.com

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