India: Aditya Birla, Varde to set up $1b JV to buy stressed assets

India: Aditya Birla, Varde to set up $1b JV to buy stressed assets

Kumar Mangalam Birla. Photo: Saanskrut Kumar/Mint

Varde Partners Inc. and Aditya Birla Capital Ltd. are creating a joint venture to invest as much as $1 billion in distressed assets in India, according to people familiar with the transaction, who asked not to be identified because the information is private.

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