HSBC to buy L&T’s MF arm for $425 mn
The Hindu
HSBC Asset Management (India) Private Ltd., an indirect wholly-owned subsidiary of HSBC Holdings Plc., said it has entered into an agreement with L&T Finance Holdings Ltd. (LTFH) to fully acq
HSBC Asset Management (India) Private Ltd., an indirect wholly-owned subsidiary of HSBC Holdings Plc., said it has entered into an agreement with L&T Finance Holdings Ltd. (LTFH) to fully acquire L&T Investment Management Ltd. (LTIM) for $425 million.
LTIM is the investment manager of L&T Mutual Fund.
Following the completion of the acquisition, and subject to regulatory approvals, HSBC would merge the operations of LTIM with its existing asset management business in India.
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