Deals
India Reforms Will Boost Stressed-Asset Deals, Top Dealmaker Says
- JM Financial’s Kampani sees strategic, private equity interest
- Cites bankruptcy code, foreign control of asset overhaul firms
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Indian stressed-asset deals will increase this year as bad loans rise and reforms pushed by Prime Minister Narendra Modi’s government start to bear fruit, according to the nation’s top investment banker.
Interest will come from both strategic buyers and private equity firms, said Vishal Kampani, managing director of JM Financial Ltd., the former joint venture partner of Morgan Stanley in India. JM Financial was the No. 1 adviser on Indian mergers and acquisitions in each of the past two years, working on $51.6 billion of deals over the period, data compiled by Bloomberg show.