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Analysts and market watchers have roundly panned the lender’s choice of the relatively-obscure Canadian citizen Erwin Singh Braich, backed by Hong Kong-based fund SPGP. The latter is known for having backed out of the bidding process for Reid & Taylor under the corporate insolvency resolution process (CIRP). The two parties together had offered to invest $1.2 billion – over half of Yes Bank’s planned fundraise of $2 billion.
from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34e2eB4
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