DWS Group GmbH & Co KgaA, a German asset management company will buy 40 per cent stake in Nippon Life India AIF Management (NAIF) for Rs 733 crore.
The Board of Nippon Life India Asset Management approved the execution of a Shareholder’s Agreement between NAIF and DWS.
NAIF will issue 3.40 lakh fresh equity shares to DWS at ₹21,569 per share for a total consideration of ₹733 crore.
NAIF, a wholly-owned subsidiary of Nippon Life India AIF Management, contributed ₹102 crore to the turnover (4.6 per cent) and networth (3.1 per cent) of the parent company during the last financial year.
The proposed transaction is expected to be completed within 12 months.
A leading European asset manager with global reach, DWS Group has total asset under management of €1,085 billion.
With about 5,000 employees in offices around the world, DWS offers individuals, institutions and large corporations access to comprehensive investment solutions and bespoke portfolios across the full spectrum of investment disciplines.
Its diverse expertise in Active, Passive and Alternative asset management enables DWS to deliver targeted solutions for clients across all major liquid and illiquid asset classes.