Ares SSG in talks to buy more stressed real estate assets in India

Photo: Reuters

Ares SSG is scouting for more deals in the real estate space in India where it could acquire only the stressed assets without any regulatory or judicial intervention instead of taking over an entire company.

The Hong Kong-based fund along with Assets Care and Reconstruction Enterprise Ltd (ACRE) purchased the assets of debt-ridden real estate financier Altico Capital India Ltd for 2,800 crore last week. Altico will transfer its performing assets to SSG’s private trust and the stressed assets to the ARC.

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