PE Fund Investments
Edelweiss fund acquires loans from Goldman Sachs for Rs.650-Cr
Goldman Sachs has sold a loan portfolio of INR 1,100 crore to Edelweiss Alternatives for INR 650 crore. The portfolio had loans of the realty firm Vatika Group and paper maker Ballarpur Industries. Vatika has missed payment to lenders since fiscal 2021. Goldman Sachs had provided INR 610 crore to the Vatika Group in debt and equity. Of this, INR 345 crore was provided to prepay Piramal Enterprises loans, and the balance was to complete a project located on National Highway 8. Avantha Group-promoted Ballarpur Industries was acquired by Finquest Financial Solutions a year ago for about INR 700 crore under the corporate insolvency process.
https://economictimes.indiatimes.com/markets/stocks/news/goldman-sells-rs-1100-cr-loans-to-edelweiss-alternate-fund/articleshow/100541296.cms
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