Yes Bank’s plan to bring Carlyle and Advent on board as equity investors for about $1bn has gathered pace, following the proposed sale of the lender’s stressed assets to JC Flowers Asset Reconstruction Company and the constitution of a new board, said people in the know.
ET was the first to report on February 4 and March 4 about Advent and Carlyle being in discussions with Yes Bank for a potential $1 billion investment.
The proposed investment could be similar to Bain Capital’s investment in Axis Bank that saw the Boston-based private equity firm lead a consortium to invest $1.8 billion.
Read more: Economic Times
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