Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now

Yes Bank likely to pick highest bidder JC Flowers as partner for bad loan firm

Yes Bank had earlier said that the transfer of bad loans to the proposed firm will be done by June

June 02, 2022 / 10:02 AM IST
Representative image

Representative image

Yes Bank is likely to shortlist JC Flowers Asset Reconstruction Company (ARC) as its joint venture partner to offload nearly Rs 50,000 crore of bad loans, CNBC-TV18 reported citing sources on June 2.

JC Flowers is the highest bidder for the ARC valuing the Rs 50,000 crore worth of bad loans at around Rs 12,100 crore.

The news comes after Moneycontrol recently reported that Yes Bank is in talks with Cerberus Capital and JC Flowers for the sale of its stressed loans.

Yes Bank had earlier said that the transfer of bad loans to the ARC will be done by June.

The deal is critical for any equity infusion in the bank.

Close

Also Read | Yes Bank scam: CBI brings arrested builder Avinash Bhosale to Delhi for questioning

Carving out a bad loan ARC and getting capital from top PE players will likely offer a complete resolution to the bank which was bailed out by the State Bank of India under the central bank's supervision.
Moneycontrol News
first published: Jun 2, 2022 10:02 am
Sections
ISO 27001 - BSI Assurance Mark