Arun Duggal, Chairman, IARC says, "They would acquire 26 percent equity in the company and the rest of the money will be there, but the most important thing is that KKR has very substantial plans to invest in this space in India."
Global leverage buyout firm KKR will pick up 26 percent stake in international asset reconstruction company. This is the first investment made by a private equity player in an asset reconstruction company.
Going forward, KKR has the option of becoming majority shareholder in the next 3-5 years. Speaking exclusively to CNBC-TV18, IARC management says KKR will team up with an Indian partner to invest the initial Rs 300 crore.
Arun Duggal, Chairman, IARC says, "They would acquire 26 percent equity in the company and the rest of the money will be there, but the most important thing is that KKR has very substantial plans to invest in this space in India."
Initial investment of Rs 300 crore is just for the openers, he said adding that they are expecting that KKR will be raising additional funds and we will be able to play a much bigger role in the asset reconstruction market.
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