|
Investment News |
||
|
Devonshire Capital Devonshire Capital's Indian unit successfully acquires from ARCIL the secured debt of Patheja Brothers Forgings & Stampings Following last September's acquisition of the secured debt of Patheja Forgings & Auto Parts Manufacturers, Devonshire Capital (Mauritius) Limited has now successfully acquired in open bidding 90% of the outstanding secured debt representing INR 2.14 billion (USD 48 million) of Patheja Forgings & Stampings 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. |
||
|
<< back |
 |
 |
