White Oak Capital group has said that it has completed the transaction to acquire the mutual fund business of YES BANK. The group received SEBI’s approval for registration of GPL Finance and Investments Limited (GPL Finance) as a sponsor of Mutual Funds. White Oak Group has now successfully integrated YES Asset Management into its fold.
YES Securities acted as an exclusive advisor to the transaction. Samvad Partners acted as legal advisor to YES BANK, while Khaitan & Co, IC Universal Legal and Regstreet Law Advisors were legal advisors to White Oak Capital on the transaction.
“The move, aligned with the Bank’s sustained efforts to enhance value creation for all our stakeholders, will lead to significant gains for both companies and, more importantly, our customers. With this transaction, the Bank remains committed to re-channelizing resources as part of our overall strategy to drive growth and innovation in our offerings. My best wishes to White Oak Capital on this new journey,” said Prashant Kumar, Managing Director & CEO, YES BANK.
