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Stock impact report

TVS Venu Group to acquire PGIM India asset management arm [Yahoo! Finance]

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Yahoo! Finance
The transaction is being carried out through TVS Venu Management and Consultancy Services and related entities and will close after required regulatory clearances and other standard conditions are met. PGIM India operates as part of PGIM, the investment management arm of the US-based Prudential Financial. The firm provides equity, fixed income and multi-asset strategies for retail and institutional clients. It reported assets under management of more than Rs 300bn ($3.3bn) as of the end of December. As of the end of March, PGIM India oversaw 25 open-ended mutual fund schemes in India, and also offers alternative investment funds, portfolio management services and offshore advisory. Advisory roles on the deal included Khaitan & Co for TVS Venu Group and Shardul Amarchand Mangaldas & Co for Prudential Financial Inc. Ernst & Young acted as exclusive M&A advisor to Prudential Financial. PGIM India's current structure followed a 2019 transaction in which Prudential Global Invest Show less Read more
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