CCI nod for merger of BOB and BNPP
On 14 Nov, the Competition Commission of India (CCI) has approved the merger of the BNP Paribas (BNPP) Mutual Fund and the Baroda (BOB) Mutual Fund, under the Competition Act, 2002. The parties propose to amalgamation includes BOB BOB Asset Management Company (AMC) into BNPP AMC and BNPP Trustee Company (TC) into BOB TC. After the amalgamation BNPP AMC and BOB TC will be surviving entities. BNPP AMC is the AMC for BNPP Mutual Fund and acts as the investment manager of BNPP Mutual Fund. BNPP AMC is also a registered as Portfolio Manager under SEBI Regulations. It provides portfolio management services and advisory activities. BNPP TC is the trustee company of BNPP Mutual Fund. BOB AMC is the AMC for BOB Mutual Fund and acts as the investment manager of BOB Mutual Fund. BOB TC acts as the trustee for BOB Mutual Fund.