M and A
Sundaram To Buy Out BNP Stake In Indian JV Asset Manager
Southern India-based Sundaram Finance is to acquire French-owned BNP Paribas’s 49.9 per cent holding in Sundaram BNP Paribas Asset Management and Sundaram BNP Paribas Trustee Co, the company has said in an e-mailed statement, according to media reports.
The two companies will be wholly-owned by Sundaram Finance after the transaction.
The acquisition price was not disclosed.