CCI approves acquisition of YES AMC, YES Trustee Limited by GPL Finance

CCI approves acquisition of YES AMC, YES Trustee Limited by GPL Finance

CCI approves acquisition of YES AMC, YES Trustee Limited by GPL Finance

The Competition Commission of India (CCI) has supported the securing of YES Asset Management (India) Limited (YES AMC) and YES Trustee Limited (YES Trustee) by GPL Finance and Investments Limited (GPL) today, an administration release said. 

Indeed AMC, which has a place with the YES Bank Limited gathering, is a resource the board organization/speculation chief to YES Mutual Fund. 

In the meantime, YES Trustee additionally has a place with the YES Bank bunch. It is the selective proprietor of the trust asset of YES Mutual Fund and holds something similar in trust to assist the unitholders. 

The proposed blend visualizes securing of 100% value portions of YES AMC and YES Trustee by GPL, the delivery said. Via these acquisitions, GPL will obtain Yes Mutual Fund and become its sole support, it further said. 

GPL is enrolled with the Reserve Bank of India as a non-store taking and non-foundationally significant Non-Banking Financial Company. 

It is delegated a venture organization and is essentially occupied with making interests in common assets and giving reference and backing administrations to White Oak Capital. GPL is essential for the White Oak Group. The White Oak bunch is a venture, the board and speculation warning gathering established by Prashant Khemka. 

The loads of Yes Bank today finished at Rs 13.40 on the NSE, acquiring by practically 0.4 per cent from the one-time closing cost on Monday.

Source- ZeeBiz



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