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Yes Bank ‘close’ to securing $1bn investment from Carlyle, Advent

Yes Bank is said to be on the verge of securing a $1 billion equity investment from Carlyle and Advent, according to a report by Mint.

The deal has been slow to reach a conclusion owing to a current asset reconstruction company (ARC) deal employed by the bank as it looks to get rid of a large proportion of the bad loads currently on its books. Yes Bank has subsequently partnered with JC Flowers for the ARC and the fundraising agreement with the two private equity investors is now expected to close soon despite the bank also seeking shareholder approval for a new board of directors.

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