According to ET reports, three fund managers from Canada, Scandinavia and Korea are at the negotiation stage with Edelweiss ARC to buy.
According to an Economic Times report, three fund managers from Canada, Scandinavia and Korea are on the negotiation table with Edelweiss ARC to buy 30 percent stake. Of these, Canadian Pension fund — Caisse de depot et placement du Quebec (CDPQ) —is in final stages and will debut its investment in the Indian financial services space if the deal sees a closure.
The deal value for the 30 percent stake is put at USD 250 million (Rs 1,600 crore).
Edelweiss ARC deals in acquiring non-performing assets (NPAs) from banks and financial institutions and resolving them through appropriate resolution strategies. The firm, also the biggest player in the space, holds about 40 percent market share in the ARC business currently.
Read more at: Three foreign funds vie for 25 percent in Edelweiss ARCThe Great Diwali Discount!
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