JC Flowers Asset Reconstruction Company in talks to merge into Assets Care

Mumbai: JC Flowers Asset Reconstruction Company (JCF ARC) is in talks to merge with Ares SSG Group-backed Assets Care & Enterprise (ACRE), according to three people aware of the development, a move that would make it one of the largest bad-loan aggregators.

The two asset reconstruction companies are in advanced discussions on a stock-swap deal that would result in JCF ARC winding down its India operations and surrendering its ARC licence to the Reserve Bank of India (RBI).