 "Aditya Birla group's ARC set to make a formal bid for RattanIndia Power")
The Aditya Birla group’s asset reconstruction company (ARC) is set to make a formal bid for RattanIndia Power, which has defaulted loans worth Rs 8,200 crore.
Aditya Birla ARC, which has a tie up with US-based Verde Partners Inc, is also looking at the option to partner Goldman Sachs and Rajiv Rattan, promoter of the stressed company, to make the bid, a source from a leading bank said. If successful, this would be the first transaction by the ARC, set up in August last year.
Lenders are expecting an offer from the ARC by January 21. They are expected to
