CCI approves merger of BNP Paribas MF and Bank of Baroda MF
15 Nov 2019
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The Competition Commission of India (CCI) has approved the merger of BNP Paribas Mutual Fund and the Baroda Mutual Fund, the asset management of BNPP and BoB
The Proposed Combination relates to merger of the BNP Paribas Mutual Fund and the BOB Mutual Fund.
Under the proposed merger, BOB Asset Management Company (AMC) will be amalgamated into BNPP AMC while BNPP Trustee Company (TC) will be amalgamated with BOB TC.
After the merger BNPP Asset management Company and BOB Trustee Company will be the surviving entities.
BNPP AMC is the dedicated AMC for BNPP Mutual Fund and acts as the investment manager of BNPP Mutual Fund. BNPP AMC is also a registered as portfolio manager under Sebi Regulations. It provides portfolio management services and advisory activities. BNPP TC is the trustee company of BNPP Mutual Fund.
BoB AMC is the dedicated AMC for BoB Mutual Fund and acts as the investment manager of BOB Mutual Fund. BOB TC acts as the trustee for BOB Mutual Fund.
CCI said it would issue detailed order on the merger later.
