On May 18, 2021, the Competition Commission of India (CCI) approved the acquisition of 100 percent equity shares of YES Asset Management Company (AMC) (India)(YES AMC) and YES Trustee Limited (YES Trustee) by GPL Finance and Investments Limited(GPL).
- YES AMC and YES Trustee were the wholly-owned subsidiaries of YES Bank.
- Through these acquisitions, GPL will acquire Yes Mutual Fund and become its sole sponsor and it marks the exit of the YES bank from the mutual fund market.
About GPL Finance:
GPL is part of the White Oak Group, and it is a non-deposit taking and non- systemically important Non-Banking Financial Company(NBFC), it is primarily engaged in the business of making investments in mutual funds. (White Oak Investment Management Private Limited owns 99 percent of GPL)
-Adani Ports to acquire 25% stake of Krishnapatnam Port
CCI approved the acquisition of the remaining 25% shareholding of Adani Krishnapatnam Port Limited(AKPL) by Adani Ports and Special Economic Zone Limited(APSEZL) from Vishwa Samudra Holdings for Rs 2,800 crore.
Key points:
i.In October 2021, APSEZL has acquired 75 percent shareholding of AKPL now, after the current acquisition APSEZL holds 100% shareholding of AKPL and will become the wholly-owned subsidiary.
ii.APSEZL: It is a private multi-port operator and currently present at 11 ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
iii.AKPL: It is India’s 2nd largest private port, located in Krishnapatnam, Andhra Pradesh and it is engaged as a developer and operator of an all-weather, deepwater multi-purpose port under Build-Operate-Share-Transfer concession from the Government of Andhra Pradesh.
Recent Related News:
YES Bank bought the Reliance Centre of Reliance Infrastructure Limited (RInfra) at Santacruz, Mumbai, Maharashtra for Rs.1200 crores. This sale of the office building of 21432.28 square meter plot in Santacruz is utilised to repay the debt of YES Bank.
About YES Bank:
Establishment – 2004
Headquarters – Mumbai, Maharashtra
MD & CEO – Prashant Kumar
Tagline– Experience our Expertise
About Adani Ports and Special Economic Zone Limited (APSEZ):
Headquarters – Ahmedabad, Gujarat
CEO– Karan Adani
