KKR wins approval to back India bad debt manager
India's Foreign Investment Promotion Board (FIPB) has approved KKR's request to buy a stake in distressed asset manager International Asset Reconstruction Company (IARC).
The deal size is expected to be about INR 1.5 billion ($22.5 million) and will increase the foreign ownership in IARC from 58.75% to 78.96%, according to a filing. KKR has reportedly been in talks to invest...
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