SSG buys stake in India distressed assets specialist
Asia special situations investor SSG Capital Partners has acquired a 49% stake in Asset Care & Reconstruction Enterprise (ACRE), which acquires distressed debts from Indian banks, for INR410 million ($6.6 million).
R.P. Singh, CEO of ACRE, confirmed the investment to The Economic Times. It was previously reported by other local media. SSG is identified on the ACRE website as a sponsor of the company, alongside IFCI...
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