Sundaram: Sundaram Asset MGMT gets SEBI nod to acquire Principal – Times of India

Chennai: Sundaram Asset Management, 100% subsidiary of Sundaram finance, received Self Approval and approval from Competition Commission of India (CCI) for purchase of asset management businesses of Principal Asset Management (Principal India).
Sundaram will acquire plans managed by Principal India and acquire 100% of the share capital of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors, as originally announced in January.
Sundaram said the transaction is subject to compliance with the procedures laid down by SEBI and fulfillment of mutually agreed conditions for closing the deal.
Regulators require an ‘exit load free window’ for investors to redeem their investments where such exit load is applicable.