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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention