Sundaram Asset Management Company, wholly owned subsidiary of Sundaram Finance, announced the purchase of the asset management businesses of Principal Asset Management. Sundaram will acquire the schemes managed by Principal
Asset Management and acquire 100% of the share capital of Principal Asset Management,
Principal Trustee Company, and Principal Retirement Advisors.
The transaction is subject to the receipt of necessary regulatory approvals and SEBl prescribed processes, and Principal will continue to operate the businesses until the deal is closed.
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