Kotak Mahindra, CPPIB to invest $525 mln in stressed assets: Reuters
India's Kotak Mahindra Group said it has signed an agreement with Canada Pension Plan Investment Board (CPPIB) to invest up to US$525 million in stressed assets in the country's banking and corporate sectors, Reuters reported. CPPIB and the Indian financial services conglomerate, along with its asset reconstruction arm, Phoenix ARC, plan to invest in asset sales by banks with the aim to restructure, recover and turnaround companies in distress. CPPIB will have the ability to invest up to US$450 million in the initiative.
14 March 2016•1 min read
