Temasek sees more India deals as companies sell assets

Mumbai

TEMASEK Holdings Pte, the Singapore state investment company, expects Indian companies to continue selling assets to pare debt as corporate balance sheet stress rises.

"For the first time, companies are selling some of their good assets to deleverage," Rohit Sipahimalani, a senior managing director at Temasek, told a Bloomberg private equity forum on Friday in Mumbai. Heavily indebted Indian companies announced as much as US$20 billion of divestments in the last year as they sought to cut debt, Mr Sipahimalani said.