Nithia Capital, CarVal Investors complete purchase of two Uttam Group firms

Total consideration Rs 2,000 cr; companies were on RBI's second list of NPAs mandated for resolution under IBC

Topics
Uttam Galva Metallics | IBC resolution | RBI

Ishita Ayan Dutt  |  Kolkata 

Nithia Capital, a global distressed alternative asset manager and advisors, and CarVal Investors, a global alternative investment manager focused on distressed and credit-intensive assets, announced on Tuesday that they have completed the acquisition of Uttam Galva Metallics Limited (UGML) and Uttam Value Steel Limited (UVSL) for a total consideration of Rs 2,000 crore.

The companies were on the Reserve Bank of India’s (RBI’s) second list of non-performing assets mandated for resolution under the Insolvency and Bankruptcy Code (IBC). The combined admitted claims of ...

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First Published: Tue, January 05 2021. 14:02 IST
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