Another international company gives up its asset rejig business licence

The stressed asset space is losing its allure for international players. Arcion Revitalization, originally promoted by Apollo Global and ICICI Bank, has become the latest firm to relinquish its license for an asset reconstruction company (ARC). In January of this year, Lonestar had surrendered its ARC license. In 2020, amid the pandemic, KKR had abandoned its ‘firm’ intentions to establish an ARC.