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Sundaram AMC gets CCI nod for Principal acquisition - The Hindu BusinessLine


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. ....

Sunil Subramaniam , Sundaram Asset Management Company Ltd , Sundaram Asset Management Company , Competition Commission Of India , Principal Trustee Company , Competition Commission , Principal Asset Management , Principal Retirement , Sundaram Finance , Asset Management , Principal Retirement Advisors , சுனில் சுப்ரமணியம் , சுந்தரம் சொத்து மேலாண்மை நிறுவனம் லிமிடெட் , சுந்தரம் சொத்து மேலாண்மை நிறுவனம் , போட்டி தரகு ஆஃப் இந்தியா , ப்ரிந்ஸிபல் அறங்காவலர் நிறுவனம் , போட்டி தரகு , ப்ரிந்ஸிபல் சொத்து மேலாண்மை , ப்ரிந்ஸிபல் ஓய்வு , சுந்தரம் நிதி , சொத்து மேலாண்மை ,

Sundaram Mutual Fund acquires Principal AMC in India for ₹338.5 cr


January 28, 2021
Principal Global Services, technical support and services arm, to continue
Sundaram Asset Management Company, a wholly owned subsidiary of Sundaram Finance, has acquired Principal Asset Management business in India for ₹338.53 crore. Principal Asset Management has assets under management of ₹7,447 crore as of December-end with about 90 per cent of this in equity-oriented schemes.
As part of the deal, Sundaram AMC will buy out the entire share capital of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors.
The transaction is subject to the receipt of necessary regulatory approvals and SEBI prescribed processes.
Sunil Subramaniam, Managing Director, Sundaram Asset Management Company, said the transaction will strengthen Sundaram MF presence in the market place with the addition of a range of schemes with a good long term performance track record across the large and mid-cap segments. ....

Andhra Pradesh , Sunil Subramaniam , Cyril Amarchand Mangaldas , Pedro Borda , Principal International , Principal Global Services , Sundaram Asset Management Company , J Sagar Associates , Principal Trustee Company , Sundaram Finance , Principal Asset Management , Asset Management , Principal Retirement , Managing Director , Sundaram Asset Management , ஆந்திரா பிரதேஷ் , சுனில் சுப்ரமணியம் , சிரில் அமர்சந்த் மங்கல்தாஸ் , பேடரோ போர்டா , ப்ரிந்ஸிபல் சர்வதேச , ப்ரிந்ஸிபல் உலகளாவிய சேவைகள் , சுந்தரம் சொத்து மேலாண்மை நிறுவனம் , ஜு சாகர் கூட்டாளிகள் , ப்ரிந்ஸிபல் அறங்காவலர் நிறுவனம் , சுந்தரம் நிதி , ப்ரிந்ஸிபல் சொத்து மேலாண்மை ,

Sundaram Asset Management Acquires Principal Asset Management Company