IndusInd Holdings gets nod to acquire majority stake in 2 Invesco entities
Fair trade regulator CCI on Tuesday approved the acquisition of majority stake in each of Invesco Asset Management and Invesco Trustee by IndusInd International Holdings Ltd.
"The proposed combination pertains to the acquisition of 60 per cent shareholding in each of Invesco Asset Management (India) Pvt Ltd (Invesco AMC) and Invesco Trustee Pvt Ltd (Invesco Trustee) by IndusInd International Holdings Ltd (IIHL).
"IIHL will be holding the investment through its wholly-owned and controlled subsidiary, IIHL AMC Holdings Ltd (IIHL AMC), which has been incorporated specifically for the purposes of proposed combination," the regulator said in a release.
IIHL is a global business license (Category 1) licensee company incorporated in the Republic of Mauritius. It is a investment holding whereby IIHL holds shares in different companies spread across sectors.
The Competition Commission of India (CCI) said it has cleared the deal.
Invesco Trustee and Invesco AMC are the trustee company and a