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CCI approves sale of YES Bank’s MF subsidiaries to GPL Finance

CCI approves sale of YES Bank's MF subsidiaries to GPL Finance_50.1

Competition Commission of India (CCI) has approved the acquisition of YES Asset Management (India) Limited (YES AMC) and YES Trustee Limited (YES Trustee) by GPL. GPL Finance and Investments Limited (GPL) will acquire 100% equity shares of YES AMC and YES Trustee.

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GPL will acquire Yes Mutual Fund and become its sole sponsor. It is registered with the Reserve Bank of India as a non-deposit taking and non-systemically important Non-Banking Financial Company (NBFC). GPL is classified as an investment company. It is part of White Oak Group, an investment management and investment advisory group founded by Mr Prashant Khemka. YES AMC and YES Trustee belong to YES Bank Limited group. YES AMC acts as an asset management company/investment manager to YES Mutual Fund.

Important takeaways for all competitive exams:

  • YES bank HQ: Mumbai, Maharashtra.
  • YES bank MD & CEO: Prashant Kumar.

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