Valuation, due diligence concerns crimp distressed deals

Distressed asset specialists are increasingly looking to pick up companies or their debts at discounted valuations amid the ongoing Covid-19 pandemic. China is particularly drawing their attention, with its economy having broadly exited lockdown measures to combat the virus.   But would-be buyers will need to surmount many hurdles to conclude deals, including wildly varying valuation estimates, the difficulties of conducting due diligence, and the scepticism of the asset clas…