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Investment News |
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Devonshire Capital Devonshire Capital's India unit successfully acquires from ARCIL the secured debt of Patheja Forgings & Auto Parts Manufacturers Devonshire Capital (Mauritius) Limited has successfully acquired in open bidding 79% of the outstanding secured debt representing INR 3.74 billion (USD 84 million) of Patheja Forgings & Auto Parts Manufacturers Limited from Asset Reconstruction Company (India) Limited (ARCIL). The Patheja Group was formerly one of India's largest auto part manufacturers, with its customers being the world's major automotive companies, The Patheja Group experienced financial difficulties during the late nineties. Devonshire Capital's India unit is now in the process of a corporate restructuring exercise. ARCIL is India's first and largest asset reconstruction
company established by a group of the largest banks and financial
institutions in India. |
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