JC Flowers ARC gets two bids for Rs 3,903 crore of bad loans
US Election News Live Updates
State-wise voting times in IST & when to expect early trends
US will make history. For the right reasons, or the wrong.
CFM ARC has offered Rs 78 crore to takeover Rs 1,290 crore debt of Carnival Cinemas, while Ares SSG Capital-backed Acre ARC gave a Rs 237 crore binding bid to acquire Rs 2,613 crore debt for a portfolio of retail and SME loans.
Acre confirmed to ET in an email response that it is the anchor bidder for Rs 2,613 crore retail-cum-SME portfolio. JC Flowers declined to comment while CFM did not respond to ET's email seeking comments.
Acre ARC's Rs 237 crore bid has triggered a Swiss challenge auction and it will have the first right to match or beat the challenging bidders. For JCF ARC, the sale of retail-cum-SME portfolio will yield 9% cash recovery. KPMG advised JC Flowers ARC for this transaction.
JC Flowers ARC had acquired both the accounts in December 2022 from Yes Bank as part of ₹48,000 crore stressed loan portfolio it bought for ₹11,200 crore in a 15:85 cash-to-security receipts structure.
Marketing
Modern Marketing Masterclass by Seth Godin
By — Seth Godin, Former dot com Business Executive and Best Selling Author
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By — Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Advanced Java Mastery: Object-Oriented Programming Techniques
By — Metla Sudha Sekhar, IT Specialist and Developer
Finance
A2Z Of Finance: Finance Beginner Course
By — elearnmarkets, Financial
