Cash-strapped Suzlon Energy proposes banks to take 68% haircut to restructure its debt.
Shoring Up: India’s largest private sector port operator, Adani Ports and Special Economic Zone Ltd (APSEZ), has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of ?13,500cr.
The deal is APSEZ’s biggest acquisition yet in India’s port sector in terms of value and size.
Currently, the port has a draft of 18.5 metres, a depth that can accommodate full-loaded Capesize vessels of 200,000-tonne capacity. Hindu BusinessLine
Hard to Get?: Cash-strapped Suzlon Energy Ltd has proposed banks to take 68% haircut to restructure its debt. This would mean that the lenders would have to take a hit of ?7,684cr, settling a ?11,300cr loan for ?3,616cr.
FYI: Lenders had earlier indicated a willingness to take a 50% haircut. Outlook India
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