Julius Baer-DSP Merrill Lynch deal gets CCI green signal

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dealThe Competition Commission of India (CCI) has cleared Swiss banking group Julius Baer’s proposed acquisition of DSP Merrill Lynch’s wealth management and related businesses in India.

Julius Baer will acquire all shares of Merrill Lynch Wealth Advisors Pvt Ltd (MLWA) a wholly-owned subsidiary of DSP Merrill Lynch.

MLWA has been set up specifically for the deal. A local purchase agreement with regard to the transaction was inked in January.

DSPML is registered as a stock broker, merchant banker, underwriter, depository participant, investment advisor and portfolio manager.