Global funds drawn to India's record $120 bln sour debt: Reuters

Global distressed asset buyers such as J.C. Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated US$120 billion of bad and troubled loans, Reuters reported. Investors drawn to potential deal opportunities include Canada Pension Plan Investm...

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Bibliographic Details
Published in:peHUB 2016
Main Authors: Tripathy, Devidutta, with additional reporting by Sumeet Chatterjee
Format: Newsletterarticle
Language:English
Subjects:
Banking industry
Bankruptcy laws
Central banks
Equity stake
Loans
Regulatory approval
Online Access:Get full text
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Summary:Global distressed asset buyers such as J.C. Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated US$120 billion of bad and troubled loans, Reuters reported. Investors drawn to potential deal opportunities include Canada Pension Plan Investment Board, which recently partnered with India's Kotak Group to invest up US$525 million in stressed corporate and financial assets in the country.
ISSN:2331-155X