Vishal Retail board approves MoU with TPG in accordance with CDR
2010 June 24
Vishal Retail and US-based private equity major TPG signed MoU agreement. Vishal Retail is going to enter corporate debt restructuring (CDR) scheme with TPG.
The debt-ridden retailer yesterday said that its board of directors have approved the terms of memorandum of understanding (MoU) with TPG VW Ltd in accordance with corporate debt restructuring (CDR) scheme approved by the lenders of the company.
TPG has been linked to a possible purchase of Vishal Retail but hasn’t confirmed details on this. Vishal Retail’s debt stands at Rs 735 crore. The stock surged 5% in early trade.
No related posts.
Subscribe to Stock Market Today