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.