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India: CCI clears Reliance Capital-Goldman Sachs deal

 |  January 5, 2016

The Competition Commission of India has given its approval to Reliance Capital Asset Management’s proposed acquisition of global giant Goldman Sachs’ mutual fund business in India for Rs 243 crore.

The fair trade regulator, which keeps a tab on unfair business practices across sectors, has approved the acquisition as the deal may not have an adverse impact on competition in the country.

Reliance Capital Asset Management had in October announced the acquisition. Under the deal, RCAM will acquire all 12 onshore mutual fund schemes of Goldman Sachs Asset Management India with total asset under management of Rs 7,132 crore.

Full content: The Economic Times

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