Private Equity

Other Private Equity/Strategic Investments

JC Flowers in JV with Yes Bank to sell Rs.48,000-Cr bad loans

Economic Times  

Publicly-listed Yes Bank has signed a term sheet to select JC Flowers Asset Reconstruction Co - promoted by US-headquartered special situations investment firm JC Flowers - as its JV partner for the sale of bad loans worth INR 48,000 crore. The JV will initially deal with Yes Bank's soured assets before expanding its ambit. Yes Bank plans to run a bidding process on Swiss Challenge basis for sale of the portfolio using the JC Flowers ARC's offer as the base bid.