Yes Bank to Acquire Additional 10% Stake in JC Flowers ARC: Details

  • Investing.com
  • Stock Market News
Yes Bank to Acquire Additional 10% Stake in JC Flowers ARC: Details

By Malvika Gurung

Investing.com -- The private sector lender Yes Bank (NS: YESB ) has entered into a share subscription and purchase agreement with J.C. Flowers Asset Reconstruction, along with a  shareholders’ agreement with JCF ARC, JC Flowers ARC and Emso Asset Management on Monday.

The bank is also looking to acquire a stake capital of up to 19.9% of JC Flowers ARC, subject to requisite regulatory approvals, stated the Mumbai-based private lender to the domestic bourses.

According to the exchange filing, Yes Bank looks forward to participating as a minority shareholder in JC Flowers ARC, in partnership with JC Flowers so that it participates in the business of asset reconstruction.

The bank has already acquired a 9.9% stake in JC Flowers ARC or a total of 1,23,70,050 equity shares at Rs 11.43 apiece, and the acquisition of an additional 10% shareholding will follow after receiving the necessary approvals from RBI.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles