Source: PIB
Recently the Competition Commission of India (CCI) approved the merger of BNP Paribas (BNPP)(an International bank) Mutual Fund and Baroda (BOB) Mutual Fund, under Section the Competition Act, 2002
Key highlights
- The Proposed Combination relates to the merger of the BNP Paribas Mutual Fund and the BOB Mutual Fund. The Parties propose to amalgamate
- BOB Asset Management Company (AMC) into BNPP AMC; and
- BNPP Trustee Company (TC) into BOB TC. After the merger, BNPP AMC and BOB TC will be the surviving entities
- BNPP AMC is the dedicated AMC for BNPP Mutual Fund and acts as the investment manager of the BNPP Mutual Fund. BNPP AMC is also registered as a Portfolio Manager under SEBI Regulations. It provides portfolio management services and advisory activities. BNPP TC is the trustee company of the 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.
