Lenders okay JC Flowers ARC’s bumped-up purchase plan for stressed pipemaker

Lenders led by government-owned Canara Bank have okayed JC Flowers Asset Reconstruction Company’s bumped-up acquisition plan for a Hyderabad-based stressed maker of pig iron and ductile pipes.  Sathavahana Ispat is set to be acquired by the ARC for Rs 531 crore ($71.5 million) under the Swiss Challenge method, according to two ......