The proposed combination relates to acquisition of 100% equity share capital of L&T AMC by HSBC AMC from L&T Finance Holdings Limited (L&T Sponsor/Seller) and its nominees. The acquisition of equity shares of the Target falls under Section 5(a) of the Competition Act, 2002.
HSBC AMC / Acquirer
HSBC AMC is the asset management entity for operating the day-to-day functioning of HSBC Mutual Fund schemes (HSBC MF). It is responsible for managing investments of money pooled-in through investments in HSBC MF. HSBC AMC is a wholly-owned indirect subsidiary of HSBC Holdings PLC (HSBC Group) and belongs to the HSBC Group of companies.
L&T AMC / Target L&T
AMC is the asset management entity for operating the day-to-day functioning of L&T Mutual Fund schemes (L&T MF). It is responsible for managing investment of money pooled-in through investments made in L&T MF. L&T AMC is a wholly owned subsidiary of L&T Sponsor.
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