CCI approves sale of YES Bank’s MF subsidiaries to GPL Finance

Reasonable exchange controller Competition Commission of India (CCI) on Tuesday supported the securing of Yes Asset Management (India) Ltd and Yes Trustee Limited by GPL Finance and Investments Ltd. 

The proposed mix imagines the securing of 100% equity shares of the two elements by GPL, according to delivery. 

Yes Bank revises fixed deposit rates. Check latest FD interest rates here

“Via these acquisitions, GPL will obtain Yes Mutual Fund and become its sole support,” the delivery added. 

GPL Finance is a non-deposit-taking and non-fundamentally significant non-banking monetary organization. 

In August 2020, the private loan specialist had executed a complete arrangement for the offer of 100% of the equity shareholding of Yes Asset Management (India) Ltd and Yes Trustee Ltd, both entirely claimed auxiliaries of Yes Bank to GPL Finance and Investments, it had said in an administrative recording. 

“White Oak Investment Management Private Limited possesses 99% of the buyer. A definitive valuable holder of the buyer is Prashant Khemka who possesses 99.99 percent of White Oak Investment Management Private Limited,” Yes Bank had said. 

In a tweet, the controller on Tuesday said, “Commission endorses the securing of 100% equity shares of YES Asset Management (India) and YES Trustee by GPL Finance and Investments.

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