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Krung Thai Bank in New Asset Venture.
May 2--Krung Thai Bank and Cerberus Asia Capital Management Fund plan to establish a $200-million restructuring fund to buy bad assets from local banks and invest in companies undergoing debt restructuring.
Teerasak Suwanayos, the chairman of Krung Thai Asset Management, said the new fund would be 75 percent held by Cerberus and 25 percent by Krung Thai Bank.
"We expect the new restructuring fund will buy, invest or extend restructuring loans to various companies," he said.
The fund could either purchase loan assets directly from banks, or invest as an equity partner to assist restructuring.
Mr Teerasak said the fund would complement ...
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Source: HighBeam Research, Krung Thai Bank in New Asset Venture.