THAILAND'S Financial Sector Restructuring Authority has sold six more tranches of its business loan portfolio, raising Bt27.3bn ($750m) from assets with a face value of Bt124bn ($3.4bn). Goldman Sachs bought the lion's share of the loans, bidding in partnership with GE Capital. The formal auction, which closed on December 15, disposed of only 8.2% of the Bt388bn ($10.68bn) of available assets, but the FRA then negotiated with several candidates whose bids were too low for it to accept outright.
January 08, 1999