Blackstone-backed IARC aims to yank a road out of bankruptcy

International Asset Reconstruction Company (IARC), backed by Blackstone, is set to acquire a southern toll road asset under the bankruptcy process.  Lenders have okayed IARC's plan for Transstroy Tirupati-Tiruthani-Chennai Tollways (TTTCT), two persons said. The offer worth Rs 230-250 crore ($30.8-33.4 million) translates into a haircut of around 60% for the lenders, ......