Chairman Arundhati Bhattacharya said that the Essar deal will get the group's debt to move to another organisation and believed it was a good deal with Rosneft. “I am hoping it will help Essar Group to bring down leverage and stress they have in other accounts.
State Bank of India (SBI) has proposed to launch a joint venture with Canadian company Brookfield Asset Management. Brookfield has agreed to commit Rs 7,000 crore to buy distressed assets. India’s largest lender will contribute up to 5 percent of the total investments made by the fund.
