Yes Bank has entered into a share subscription and purchase agreement with JCF ARC LLC and J.C. Flowers Asset Reconstruction (JC Flowers ARC) and a shareholders' agreement with JCF ARC LLC, JC Flowers ARC and Emso Asset Management on 28 November 2022 in relation to its acquisition of up to 19.9% of the equity share capital of the JC Flowers ARC by the Bank, with initial acquisition of 9.9% shareholding and subsequent acquisition of additional shareholding of 10.00%, subject to requisite regulatory approvals (Transaction).
The Bank intends to participate as a minority shareholder in JC Flowers ARC, in partnership with JC Flowers (a global reputed fund), to participate in the business of asset reconstruction.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
