IDFC Alternatives, the private equity arm of IDFC Ltd, is keen to acquire a controlling stake in GTL Infrastructure Ltd from the lenders of the debt-laden telecom tower operator, two people aware of the development said...
AXA arm seen buying 51% in AMW Motors
The Chinese arm of French insurance player AXA has evinced interest in buying a 51% stake in heavy commercial vehicles manufacturer AMW Motors, three senior bankers told FE, adding that they are in advanced stages of...
RBI tweaks S4A debt restructuring norms
The Reserve Bank of India (RBI) on Thursday eased the rules for various stressed asset resolution schemes and expanded the scope of a loan recast plan previously limited to the infrastructure sector. RBI also...
Orient cement’s acquisition Jaypee Group’s cement assets
The estimated size of Indian Cement Industry is 410-420 million tonnes. Over the last 3 years, the Indian cement industry has seen 47 million tonnes of capacity change hands for an EV of more than Rs.36,000 Crore. The...
Synergy Capital eyes Monnet Ispat controlling stake
Sudhir Maheshwari-led Synergy Capital Corp has entered into preliminary discussions with the lenders of Monnet Ispat Energy for a controlling stake in the company through the strategic debt restructuring (SDR) route...
Lenders finalizing debt restructuring package for ABG Cement
Mumbai: Lenders to ABG Cement Ltd are in the process of finalizing a debt restructuring package for the company, after a recent management change, two people with direct knowledge said. Global commodities platform SIMEC...
GTL Infrastructure promoters want lenders to convert debt to take majority stake
MUMBAI: In what could be an industry first, promoters of telecom tower company GTL InfrastructureBSE 14.06 % have recommended that its lenders convert debt to take majority shares to reduce the complexity of its...
SBI pushing for Jyoti Structures takeover by Dubai’s Amin Group
Mumbai: State Bank of India (SBI) is pushing creditors of Jyoti Structures Ltd to accept a takeover proposal from Dubai-based Amin Group, despite knowing about a past working relationship between promoters of the two...
ET Q&A: Bank mergers must lead to more efficiency
Banks should handhold promoters who bring equity and have viable projects, said Arun Tiwari, chairman of Union Bank of IndiaBSE -0.67 %, which has reported its third consecutive quarterly profit. In an interview with...
Banks seek CBI, CVC nod before selling stake in stressed companies
MUMBAI: Following the central bank’s directive to banks to ensure that stake sales in stressed companies under the strategic debt restructuring (SDR) does not get to fronts of the original promoters, lenders are...
There is no harm in merger of banks: R K Takkar
UCO Bank has been grappling with significantly high NPAs for quite some time. The bank is expecting some high-value accounts ,which have slipped into NPA, to recover through resolution and the recently introduced S4A...
Chinese conglomerate Jiangsu Longzhe to buy Diamond Power Infrastructure
MUMBAI: Chinese conglomerate Jiangsu Longzhe will invest close to Rs 840 crore, or $125 million, to acquire a majority stake in Diamond Power InfrastructureBSE 9.91 %, manufacturer of transmission equipment. Last week...