 "joint venture, mergers")
Varde Partners Inc. and Aditya Birla Capital Ltd. are creating a joint venture to invest as much as $1 billion in distressed assets in India, according to people familiar with the transaction, who asked not to be identified because the information is private.
The US investment firm and Indian financial services provider, helmed by billionaire Kumar Mangalam Birla, are expected to deploy this sum over three years, one of the people said. The venture, which will scout for deals of up to $100 million, may be announced as early as this week, the person said.
Varde, which manages $14 billion
