Sundaram Asset Management announces Purchase of Principal® AMC in India
Posted On: 2021-01-28 10:22:53 (Time Zone: Arizona, USA)
Sundaram Asset Management Company Limited. ( Sundaram ), a 100% subsidiary of Sundaram Finance Ltd., has announced the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd ( Principal ). Sundaram will acquire the schemes managed by Principal Asset Management Pvt. Ltd and acquire 100% of the share capital of Principal Asset Management Pvt. Ltd., Principal Trustee Company Pvt. Limited, and Principal Retirement Advisors Pvt. Ltd. The transaction is subject to the receipt of necessary regulatory approvals and SEBI prescribed processes, and Principal® will continue to operate the businesses until the deal is closed.