CCI Clears TVS Emerald, TVS Venu's Acquisition Of PGIM India AMC And Trustee Company

The Competition Commission of India has approved a proposed transaction involving the acquisition of PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited by TVS Emerald Limited and TVS Venu Management and Consultancy Services Private Limited.

According to a press release issued on Tuesday, the transaction envisages the acquisition of 100% of the issued, subscribed and paid-up share capital of the two PGIM India entities.

TVS Emerald Limited, along with its subsidiaries, is engaged in the real estate development business in India. TVS Venu Management and Consultancy Services Private Limited currently does not carry on any business activities.

The target entities are engaged in the wealth management sector and operate businesses relating to mutual funds, portfolio management services, alternative investment funds and investment advisory services.

The commission stated that a detailed order would follow.