CCI approves BOI’s acquisition of 49% stake each in BOI AXA Investment Managers, BOI AXA Trustee Services
February 10, 2021
The Competition Commission of India (CCI) has approved Bank of India’s acquisition of 49 per cent stake each in BOI AXA Investment Managers Pvt Ltd (BAIM) and BOI AXA Trustee Services Pvt Ltd (BATS).
Pursuant to this transaction, Bank of India will hold 100 per cent equity in BAIM and BATS.
Prior to this transaction, BOI AXA Mutual Fund was a joint venture between BOI (51 per cent stake ) and AXA Investment Managers Asia Holdings Pvt Ltd (AXA IM), which held 49 per cent stake each in BAIM and BATS.