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SSG Capital changes tack on Altico deal, to now retain all employees

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Altico Capital that it will retain all employees after the buyout and does not see any threat to the deal from the ongoing India-China tussle, said three people aware of the development.These people, who spoke on condition of anonymity, said after SSG Capital said it will retain jobs, employees have written a letter to the Reserve Bank of India (RBI) expressing their willingness for the deal contrary to their letter in April.“In the new letter, employees have said that they are in favour of the deal," said the one of the three people cited above.Mint reported on 12 March that lenders to Altico Capital had voted in favour of the resolution plan proposed by SSG Capital which offered ₹2,750 crore upfront for the non-banking financial company.

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