<p>Pramerica Asset Managers, the asset management business in India of Pramerica Investment Management, has signed a definitive agreement with Deutsche Bank to acquire its India asset management business.<br /><br /></p>.<p>The combined business will enable Pramerica AMC to expand its investment management expertise, distribution platform and product portfolio significantly in India, Pramerica said. <br />The transaction is subject to approval by the SEBI and the CCI, Pramerica added.<br /><br />Established in 2003, Deutsche Asset Management (India) is the second-largest foreign-owned asset manager in the country. During the period April 1 to June 30, 2015, the business had Rs 20,720 crore (approximately $3.2 billion) average assets under management. Pramerica AMC’s proposed 50:50 JV partnership with DHFL in India recently received approval from SEBI, and the JV is expected to be completed shortly.</p>
<p>Pramerica Asset Managers, the asset management business in India of Pramerica Investment Management, has signed a definitive agreement with Deutsche Bank to acquire its India asset management business.<br /><br /></p>.<p>The combined business will enable Pramerica AMC to expand its investment management expertise, distribution platform and product portfolio significantly in India, Pramerica said. <br />The transaction is subject to approval by the SEBI and the CCI, Pramerica added.<br /><br />Established in 2003, Deutsche Asset Management (India) is the second-largest foreign-owned asset manager in the country. During the period April 1 to June 30, 2015, the business had Rs 20,720 crore (approximately $3.2 billion) average assets under management. Pramerica AMC’s proposed 50:50 JV partnership with DHFL in India recently received approval from SEBI, and the JV is expected to be completed shortly.</p>
