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Jan 30 2009

Firstrand’s Indian interest goes for non-performing assets

Published by at 10:59 pm under Companies,More News

Arcil announced it would put down $120 million and raise another $480 million from other sources and then invest the whole lot in non-performing assets (NPA’s) , reported Reuters India.

Rand Merchant Bank, a division of FirstRand Bank of South Africa, holds 5% in Asset Reconstruction Company (Arcil), after buying the shares at 36 rupees per share in March 2007 for an estimated total of 400 million Indian rupees. Read more about this investment. 

Read here about Arcil’s brave decision to set up a $600 million fund to buy into the high risk/high return world of NPA’s.

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