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The Competition Commission of India has accorded its approval for the proposed acquisition of global giant Goldman Sachs’ mutual fund business in India by Reliance Capital Asset Management for Rs 243 crore.
The fair trade regulator has given its approval as the deal may not have an adverse impact on competition in the country.
In October, RCAM had announced the acquisition and under the deal, RCAM will acquire all 12 onshore mutual fund schemes of Goldman Sachs Assets Management India with total asset under management of Rs 7,132 crore.
RCAM said in a statement that it has received approval from the Competition Commission of India (CCI) for acquiring Goldman Sachs Asset Management India.
