ACRE set to buy out SBI's loans to road company in West Bengal

Assets Care & Reconstruction Enterprises (ACRE), supported by Ares SSG Capital, is set to purchase State Bank of India's (SBI) road assets in an all-cash deal following months of negotiation. ACRE's recovery amounts to 60% for the largest bank in the country and subsequently, SBI will hold an e-bidding process on 7 June to determine the offer.

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