wl-ross-buys-control-of-an-indian-company

WL Ross buys control of an Indian company

In a groundbreaking transaction, distressed debt player WL Ross & Co acquires a controlling interest in OCM India.
WL Ross Co has acquired a controlling interest in OCM India for $37 million following a lengthy negotiation process.

India is no stranger to distressed debt investments. Players such as Citigroup and ADM Capital have been involved in several transactions in recent months. But the WL Ross deal marks the first time that a distressed debt player has acquired management control of an Indian company.

OCM India has a plant in PunjabÆs Amritsar with a capacity to produce around nine million metres of suiting fabric each year. Its OCM brand was at one time considered one of the leading men's suiting brands in India. But the company has recently fallen on hard times.

The auction...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222