Adani Group, JSW, Suraksha ARC and Kotak-Cube in fray to acquire Jaypee
The race for acquiring beleaguered Jaypee Infratech, which is yet to deliver 25,000 flats and villas in and around Noida, has narrowed to four players — Adani Group, Sajjan Jindal’s JSW, Suraksha Asset Reconstruction Company and a consortium comprising Kotak…

The race for acquiring beleaguered Jaypee Infratech, which is yet to deliver 25,000 flats and villas in and around Noida, has narrowed to four players — Adani Group, Sajjan Jindal’s JSW, Suraksha Asset Reconstruction Company and a consortium comprising Kotak Realty Fund and Cube Highways.

The committee of creditors asked the four players to submit revised offers, sources told TOI. “We want the bids to be better than what is currently on the table,” said a banker, who did not wish to be identified.

The fresh offers are expected over the next few days and will then be evaluated by the panel before a final decision is taken.

Once the creditors identify a resolution applicant, the National Company Law Tribunal, the insolvency court, will be approached. Jaypee Infratech also manages the Taj Expressway and Jaypee Hospital.

The field had narrowed to 10 players, including Chinese realtor Jieyang Zhonguci and Deutsche Bank, but the lenders have opted to seek bids from four players now.

There were three bidders for acquiring the hotels, too, but the lenders have preferred to opt for players who are looking to take over the entire company instead of opting for split sale of assets.

(ends)

Related Articles

Related

Get Rid of parimatch roulette Once and For All

Parimatch Coupons And Offers There you can enter your email address and find out your account number. You can become a part of thier VIP program through invitation only. This allows you to combine multiple markets and create a single bet with unique odds. The app will...

read more

Top 9 porad z casino

Online Kasyno Bonusy bez Depozytu Kаsуnа z krupіеrеm nа żуwo ofеrują prаwdzіwą grę w Blаckjаck, rulеtkę, mаczugę і Bаccаrаt nа prаwdzіwе pіеnіądzе. Darmowe spiny to najpopularniejsza oferta jaką możesz znaleźć w kasynach online. Grafika starszych i nowszych gier...

read more

What to anticipate in Data Room Software program

Virtual data room applications are an online program which allows companies to securely shop and share confidential documents. Their functionality is particularly helpful in mergers and acquisitions, IPOs, disposals, and other transactions that want a research...

read more

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Share This