Lenders okay JC Flowers ARC’s bumped-up purchase plan for stressed pipemaker

By Beena Parmar

  • 24 Jun 2021
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Credit: Pixabay

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 ......

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