Global lenders are negotiating to acquire a 30% stake in Aakash Educational Services to resolve a $1 billion loan dispute. This proposed settlement aims to clear legal hurdles surrounding Byju’s, which is currently undergoing insolvency proceedings. The deal seeks to redefine ownership of the coaching firm, a key asset in the edtech group’s portfolio.
What Happened
Global lenders, led by the creditor group represented by Glas Trust, are in advanced settlement discussions involving Aakash Educational Services, the coaching institute that serves as a critical asset for the debt-ridden Byju’s group. The proposed agreement involves lenders acquiring a roughly 30% stake in Aakash. In exchange, the creditors would drop ongoing legal actions…