The deal makes IFC the first foreign investor in a commercial bank in Myanmar.
In March, PTTEP, a unit of the state-owned PTT Pcl, bought Murphy Oil Corp's assets in Malaysia for $2.13 billion.
This would be the third sale for Essel Infra, which aims to monetize assets to pay off creditors.
The haircuts could range from 20-60% depending on the net asset value of the project, according to industry estimates.
State-owned China Development Bank, with loans worth 98.6 billion rupees ($1.4 billion) was the biggest creditor to the indebted telecom company.
Other investors in the round were DFJ Growth, PSP Investments, and G Squared, and return backers Founders Fund, Alphabet Inc’s GV and Maverick Ventu
The process will allow Jet's lenders, led by State Bank of India, to sell the company as a whole or sell its assets piecemeal to maximise recovery fo
The move is seen as an effort to raise funds to boost spending on programmes for the poor.
China Automation Group has been conducting a strategic review to develop its future business plans and strategies.
The animal-health business could fetch as much as 8 billion euros ($9 billion).
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.
Unlock your competitive advantage in
rapidly evolving cape. Our packages
come with exclusive access to archive
content, data, discount on summit tickets & more
Be a part of our growing community now.