Hong Kong-based SSG trumps Cerberus to bag Altico after revised offer

SSG’s final offer after multiple revisions is an upfront cash payment of Rs 2,700 crore and a one year employment guarantee for the management team. Altico owes about Rs 4,000 crore to State Bank of India, Deutsche Bank, Bank of Baroda, Yes Bank, Union Bank, Mashreq Bank and IFC, besides NBFCs and mutual funds including Aditya Birla Finance, Bajaj Finance and L&T Finance.

from Banking/Finance-Industry-Economic Times https://ift.tt/2U0FmSy