SEBI yet to clear Sundaram MF deal to buy Principal AMC - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
New Delhi [India], August 13 (ANI/PNN): With the vision of bringing together business and social leaders from Asia, the Middle East and Africa on a global platform for mutual welfare and collaboration, AsiaOne Media Group is organizing the 14th Edition of Asia Africa Business and Social Forum: Awards & Business E-summit on 27th August at Zoom App.
Sundaram Asset Management Co-Principal deal gets CCI nod
SECTIONS
Last Updated: Apr 07, 2021, 10:29 AM IST
Share
Synopsis
Competition Commission of India has cleared Sundaram Asset Management Company Ltd s (SAMC) proposed deal to acquire the asset management business of Principal in India.
ET Online
Competition Commission of India has cleared Sundaram Asset Management Company Ltd s (SAMC) proposed deal to acquire the asset management business of Principal in India. The deal involves acquisition of 100 per cent of the issued and paid-up equity share capital of Principal Asset Management Pvt Ltd (PAMPL), Principal Trustee Company Pvt Ltd (PTCPL) and Principal Retirement Advisors Pvt Ltd (PRAPL), as per a combination notice filed with the regulator.
Sundaram AMC gets CCI nod for Principal acquisition
April 06, 2021
The deal is for buying out Principal AMC for ₹338.53 crore
The Competition Commission of India (CCI) has approved the Sundaram Asset Management Company Ltd’s (SAMC) acquisition of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors. SAMC, a wholly owned subsidiary of Sundaram Finance, had in January this year announced acquisition of Principal Asset Management business in India for ₹338.53 crore.
Principal Asset Management had assets under management of ₹7,447 crore as of December 2020 with about 90 per cent of this in equity-oriented schemes. “Commission approves acquisition of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors by Sundaram Asset Management Company,” the CCI said in a tweet.