YES Bank crisis: PE firms want to invest at Rs 10/share, on par with SBI

JC Flowers, Tilden, Cerberus ask SBI to prepare a clean-up plan

As State Bank of India (SBI) advances talks with interested buyers to co-invest in YES Bank, it is learnt that global private equity (PE) investors have laid out two important conditions before they seal the deal.

JC Flowers, Cerberus Capital and Tilden Park Capital, which have been negotiating with YES Bank since mid-January, and Blackstone, which recently evinced interest in the bank, insist that SBI should have a plan to clean up the troubled lender’s assets and liabilities. “The PE investors have asked SBI to ensure that both additional tier-1 (AT-1) bonds and tier-2 bonds be written down,” said a