Yes Bank to acquire minority shareholding in JC Flowers ARC

6 Dec 2022 , 01:35 AM

Yes Bank has entered into a share subscription and purchase agreement with JCF ARC LLC and JC Flowers Asset Reconstruction JC Flowers ARC and a shareholders agreement with JCF ARC LLC JC Flowers ARC and Emso Asset Management on 28 November 2022 in relation to its acquisition of up to 199Percentage of the equity share capital of the JC Flowers ARC by the Bank with initial acquisition of 99Percentage shareholding and subsequent acquisition of additional shareholding of 1000Percentage subject to requisite regulatory approvals Transaction The Bank intends to participate as a minority shareholder in JC Flowers ARC in partnership with JC Flowers a global reputed fund to participate in the business of asset reconstruction