BNP Paribas: EU approves India deal
(CercleFinance.com) - The European Commission has authorised the acquisition of the joint control of BNP Paribas Asset Management India Private and Baroda Trustee India Private, both based in India, by BNP Paribas and the Bank of Baroda.
BNPP AM is an asset management company controlled by BNPP and BOB TC, its dedicated trust company, as required by Indian law.
The transaction comprises the respective asset management activities in India of BNPP and BOB (BNAPP AM and BOB AM) and the two dedicated trust companies (BNPP TC and BOB TC).
The Commission concluded that the proposed concentration would not raise any competition issues, since BNPP AM and BOB TC do not have any real or planned activity in the European Economic Area.
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