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{"source_url": "https://www.livemint.com", "url": "https://www.livemint.com/companies/news/apollo-varde-pull-out-of-race-for-altico-11577875761983.html", "title": "Apollo, Varde pull out of race for Altico", "top_image": "https://images.livemint.com/img/2020/01/01/600x338/realestates11-kTiF--621x414@LiveMint_1577876537920.jpg", "meta_img": "https://images.livemint.com/img/2020/01/01/600x338/realestates11-kTiF--621x414@LiveMint_1577876537920.jpg", "images": ["http://b.scorecardresearch.com/p?c1=2&c2=6035286&cv=2.0&cj=1", "https://www.facebook.com/tr?id=160090851150189&ev=PageView&noscript=1", "https://images.livemint.com/img/2020/01/01/600x338/realestates11-kTiF--621x414@LiveMint_1577876537920.jpg", "https://www.livemint.com/images/nav-arrow.svg", "https://www.livemint.com/images/static/1x1_img.gif", "https://q.quora.com/_/ad/18d72aacafe84701a5b30e418a8a6611/pixel?tag=ViewContent&noscript=1", "https://www.livemint.com/images/livemint-logo-v1.svg"], "movies": [], "text": "Apollo Global Management LLC and Varde Partners LP are no longer considering bidding for Altico Capital India Ltd., according to people familiar with the matter, narrowing the number of suitors for the troubled shadow lender.\n\nThe firms pulled out because they were unwilling to meet creditor demands to inject as much as \u20b92,000 crore ($280 million) of fresh equity into Altico, two people said, asking not to be identified as the information is private. A spokesman for Apollo confirmed its withdrawal while Varde declined to comment.\n\nThat leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender, three people said. Representatives for Cerberus, SSG and Kotak declined to comment.\n\nAltico\u2019s troubles follow a spate of defaults among Indian shadow banks over the last 16 months, making it harder for the sector to raise funds. The cash crunch is also spilling over into the broader economy, given that these lenders fund everything from the construction of condominiums to purchases of personal goods like cars and phones.\n\nApollo was only willing to inject part of the money creditors sought, while Varde wanted to wait for a turnaround in Altico before investing, two people said.\n\nThis story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.", "keywords": [], "meta_keywords": ["Altico", "NBFC", "Apollo Global Management", "Varde Partners LP"], "tags": ["Digital Gurus", "Brand Masters", "Plain Facts", "Long Story Capsule", "Money With Monika", "Ayodhya Verdict", "Mint Views", "Foldable Smartphones", "Mint Explainers", "Mint Insight", "Start-Up Diaries", "NRI Investment Queries", "Why Not Mint Money", "Mint 50 - Top Mutual Funds", "Business of Entertainment", "Market Analysis", "5G Tech", "Long Reads"], "authors": [], "publish_date": "Wed Jan 1 16:34:12 2020", "summary": "", "article_html": "", "meta_description": "This leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender: Sources", "meta_lang": "en", "meta_favicon": "https://images.livemint.com/rw/PortalConfig/LiveMint/static_content/images/v2/livemint_favicon.png", "meta_data": {"viewport": "width=device-width, initial-scale=1.0, minimum-scale=1.0, user-scalable=no", "description": "This leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender: Sources", "keywords": "Altico,NBFC,Apollo Global Management,Varde Partners LP", "news_keywords": "Altico,NBFC,Apollo Global Management,Varde Partners LP", "og": {"title": "Apollo, Varde pull out of race for Altico", "image": "https://images.livemint.com/img/2020/01/01/600x338/realestates11-kTiF--621x414@LiveMint_1577876537920.jpg", "type": "article", "url": "https://www.livemint.com/companies/news/apollo-varde-pull-out-of-race-for-altico-11577875761983.html", "site_name": "https://www.livemint.com", "description": "This leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender: Sources"}, "tweetmeme-title": "Apollo, Varde pull out of race for Altico", "twitter": {"card": "summary_large_image", "site": "@livemint", "domain": "livemint.com", "url": "https://www.livemint.com/companies/news/apollo-varde-pull-out-of-race-for-altico-11577875761983.html", "title": "Apollo, Varde pull out of race for Altico", "description": "This leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender: Sources", "image": {"src": "https://images.livemint.com/img/2020/01/01/600x338/realestates11-kTiF--621x414@LiveMint_1577876537920.jpg"}}, "article": {"published_time": "2020-01-01T16:34:12+05:30", "section": "Companies"}, "Last-Modified": "2020-01-01T16:34:14+05:30", "Last-Modified-Date": "Wed, Jan 01, 2020", "Last-Modified-Time": "2020-01-01T16:34:14+05:30", "storyid": 11577875761983, "section": "Companies", "last-updated": "2020-01-01T16:34:14+05:30", "screen-name": "story"}, "canonical_link": "https://www.livemint.com/companies/news/apollo-varde-pull-out-of-race-for-altico-11577875761983.html"} |
