HSBC gets SEBI approval for acquisition of L-;T Investment

12 Oct 2022 , 11:00 AM

Sebi has approved HSBC’s acquisition of L&T Investment Managers. In December, HSBC announced the $425 million acquisition of L&T Finance Holdings’ MF business. L&T MF’s schemes will be transferred to HSBC MF and merged or consolidated with designated schemes in accordance with regulatory rules.

Earlier on December 31, 2021, L&T Finance informed the exchanges and investors that the company is considering the sale of 100% of the paid-up share capital of L&T Investment Management Limited (L&T AMC), a wholly-owned subsidiary of L&T Finance, and the asset manager of L&T Mutual Fund to HSBC Asset Management (India) Private Limited.

The company also informed that it is taking all necessary actions to ensure the completion of the Proposed Transaction in light of the letter received from SEBI.