ICICI Bank has inked a MoU with Apollo India Credit Opportunity Management LLC and AION Capital Management to association an advantage rebuilding company as to tenacity cases related to bad loans,as well revitalizing and turning around over-leveraged borrowers.

The MoU is subject to regulatory approvals, acquisition of debt exposures from lenders and equity stakes in companies.

The teamwork looking to rationalize the operations of borrowers, make easy deleveraging and arrange additional backing on a case-by-case basis.

The motive is to revitalize distressed assets and maximize their economic value. The transactions contemplated by the MoU are subject to the negotiation and execution of definitive documentation and customary closing conditions.