Lenders led by government-owned Canara Bank have okayed JC Flowers Asset Reconstruction Company’s bumped-up acquisition plan for a Hyderabad-based stressed maker of pig iron and ductile pipes. Sathavahana Ispat is set to be acquired by the ARC for Rs 531 crore ($71.5 million) under the Swiss Challenge method, according to two ......
Lenders okay JC Flowers ARC’s bumped-up purchase plan for stressed pipemaker
By Beena Parmar
- 24 Jun 2021