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Over 20 asset reconstruction companies and non-banking finance companies have expressed their interest in acquiring Saraswat Bank's non-performing assets. These include Acre ARC, Asset Reconstruction Company (India) and Edelweiss ARC.
Walmart-owned digital payments company PhonePe has decided to call off the deal to acquire buy-now-pay-later (BNPL) platform ZestMoney, after months of being engaged in discussions, The Economic Times reported, citing three people with knowledge of the matter. “The deal is off; the company boards and investors were made privy to the ......
Acre ARC set to purchase Indiabulls assets SECTIONS Share Synopsis The deal is yet another attempt by the Sameer Gehlaut-led Indiabulls Group to shed capital-intensive assets as it moves to a new business model based on fees and trailing income. Getty Images Los Angeles-based $149 billion Ares Management Corp-backed asset reconstruction company, Assets Care & Reconstruction Enterprise (Acre), has agreed to buyout a majority of the assets owned by Sameer Gehlaut-promoted Indiabulls ARC in a deal likely to be signed as soon as Friday, two people associated with the transaction said. The deal i...