Daiwa's Strategic Dip into India's Wealth Management Sector
The Competition Commission of India approved Daiwa International Holdings' acquisition of a 15.01% stake in Ambit Wealth Pvt Ltd. This move, part of a $32 million agreement, signals Daiwa's expansion in India. Meanwhile, Aadhar Housing's shares were acquired by AXDI LDII SPV 1 Ltd, furthering market dynamics.
- Country:
- India
The Competition Commission of India (CCI) has given the green light to Daiwa International Holdings Inc, a prominent Japanese investment firm, to acquire a 15.01% stake in Ambit Wealth Pvt Ltd, a significant player in India's wealth management landscape.
This strategic acquisition, valued at USD 32 million, reflects Daiwa's ambition to extend its reach within India's burgeoning financial sector. Ambit Wealth, a subsidiary of Ambit Pvt Ltd, has been offering comprehensive wealth management services in the Indian market.
In tandem, the CCI also sanctioned AXDI LDII SPV 1 Ltd's acquisition of a 10.04% stake in Aadhar Housing Finance Ltd from BCP Topco VII Pte Ltd, an affiliate of Blackstone. These endorsements underscore the regulator's role in maintaining competitive equity in financial transactions.
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