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Reliance-ACRE, 15 others submit EoIs for Sintex Industries

Economic Times  

Reliance Industries Ltd in partnership with Assets Care & Reconstruction Enterprise Ltd (ACRE), Varde Capital-backed Aditya Birla Asset Reconstruction Company, a Welspun Group entity and foreign fund CarVal Investors, among others, have submitted expressions of interest (EoI) for bankrupt Sintex Industries. ACRE is majority-owned by Ares SSG Capital, an alternative investment manager. The other EoI applicants include Edelweiss Alternative Assets Advisors Ltd, Asset Reconstruction Company of India, Prudent ARC, Trident Ltd, Himatsingka Ventures, Lotus Hometextile, Indocount Industries, Nitin Spinners, and GHCL Ltd. In all, the resolution professional has received 16 EoIs for the textile company.