| BlackRock may replace Merrill in DSPML |
| Kausik Datta / Mumbai February 15, 2006 |
| DSPML Fund Managers, a 60:40 joint venture between Hemendra Kothari and Merrill Lynch, is expected to witness a change of promoters, with the latter nearing a deal to sell its asset management division to BlackRock, a US-based money manager. According to international media reports, Merrill Lynch is close to acquiring a 49 per cent stake in BlackRock. Valued at $8 billion, the deal will create a firm with $1 trillion of assets under management, the most of any publicly traded company. In return, BlackRock will assume Merrill Lynch |
