IndusInd Holdings Gets Nod to Acquire Majority Stake in Invesco Entities

23 Aug 2024 CW Team

IndusInd International Holdings Ltd. (IIHL) has received approval from the Competition Commission of India (CCI) to acquire a majority stake in two Invesco entities. The deal includes IndusInd?s acquisition of a controlling interest in Invesco Trustee Pvt. Ltd. and Invesco Asset Management Pvt. Ltd., two prominent units within Invesco?s India operations.

This strategic acquisition will bolster IndusInd?s presence in the asset management sector and enhance its financial services portfolio. Invesco, a leading global investment management firm, has a well-established footprint in India, offering a wide range of mutual fund products. By acquiring these stakes, IndusInd aims to strengthen its asset management capabilities and expand its reach in the growing Indian investment market.

The deal aligns with IndusInd?s long-term strategy of diversifying its offerings and tapping into new revenue streams, especially as the demand for asset management services continues to grow in the country. The CCI's approval is seen as a key regulatory milestone, paving the way for IndusInd to finalise the transaction and integrate Invesco's operations into its broader financial ecosystem.

This acquisition marks a significant development in the financial services landscape, with IndusInd poised to leverage Invesco?s established presence and expertise to drive growth in India?s booming asset management industry.

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