GIC, the Singapore government sovereign wealth fund investment arm, plans to invest in India’s Arcil, Asset Reconstruction Company of India, through a 10 percent stake according to The Economic Times.
The India investment deal is subject to India’s Foreign Investment Promotion Board (FIPB) approval and Arcil’s CEO S Khasnobis Arcil declined to comment on the move by GIC.
Arcil is India’s largest asset reconstruction company otherwise known as an ARC.
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