MoU Between SBI and Brookfield Asset Management

State Bank of India, the country’s largest lender, has signed a Memorandum of Understanding (MoU) with Brookfield Asset Management to form a joint venture that will invest in stressed assets.

Details:

• Brookfield will commit about Rs.7,000 crore and State Bank of India up to 5 per cent of the total investments into stressed assets, according to a statement from the lender.
• The proposed JV will independently evaluate and invest in various stressed assets, and will rely on Brookfield’s operational expertise to manage recapitalized businesses.
• The venture may also seek participation from other lenders in the identified assets.