BNP Paribas and Bank of Baroda merge India units into asset management joint venture

Pedro Gonçalves
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BNP Paribas and Bank of Baroda merge India units into asset management joint venture

Baroda Asset Management India, a wholly-owned subsidiary of Bank of Baroda and BNP Paribas Asset Management India, a subsidiary of BNP Paribas Asset Management Asia (BNPP AM), are merging their mutual fund business. After the transaction closes, Bank of Baroda will have a stake of 50.1% in the combined asset management company and a 50.7% stake in the combined trustee while BNP Paribas will hold the remaining. The transaction is subject to regulatory clearances and other legal approvals...

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