Acre ARC set to purchase Indiabulls assets Los Angeles-based $149 billion Ares Management Corp-backed asset reconstruction company, Assets Care Reconstruction Enterprise (Acre), has agreed to buyout a majority of the assets owned by Sameer Gehlaut-promoted Indiabulls ARC in a deal likely to be signed as soon as Friday, two people associated with the transaction said.The deal is yet another attempt by the Sameer Gehlaut-led Indiabulls Group to shed capital-intensive assets as it moves to a new business model based on fees and trailing income."The total assets Indiabulls ARC has are about Rs 2,100 crore, out of which about Rs 1,800 crore are being sold to Acre,” said one of the persons cited above. “These are mostly small retail loans like mortgages and loans against property with a small part of corporate and SME loans. The transaction is very close to completion."Indiabulls plans to wind down the rest of the book in line with the company's objective to focus on new businesses like telemedicine, healthcare and fintech. The ARC business is a 100% subsidiary of the erstwhile Indiabulls Ventures, which has been renamed as Dhani Services.