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Bank of Baroda, BNP Paribas to merge asset management units

Mumbai: Bank of Baroda’s asset management arm Baroda Asset Management and BNP Paribas Asset Management India, a wholly-owned unit of BNP Paribas AMC Asia have agreed to merge.

The merger is subjected to regulatory approvals and other legal approvals, the two companies said on Friday.

Further details of the joint venture were not immediately known.

Bank of Baroda was being assisted by BOB Capital Markets as its transaction advisor, Khaitan & Co as its legal advisor and Deloitte Touche Tohmatsu India as its financial due-diligence advisor.

BNP Paribas Asset Management was assisted by BNP Paribas Investment Banking as its transaction advisor, AZB & Partners as its legal advisor and PricewaterhouseCoopers as its financial due-diligence advisor.

Source: Economic Times