blackrock-acquires-merrills-stake-in-indian-fund-manager

BlackRock acquires Merrill's stake in Indian fund manager

BlackRock acquires Merrill Lynch's 40% stake in DSP Merrill Lynch Fund Managers as part of the global deal between the companies.
Asset management firm BlackRock will acquire 40% of Indian asset management company DSP Merrill Lynch Fund Managers. No financial details have been disclosed.

The move is in line with the realignment of Merrill LynchÆs asset management business globally. In September 2006 Merrill Lynch combined its investment management business, Merrill Lynch Investment Managers, with BlackRock in exchange for a 49% economic stake in the merged enterprise. The new entity, which was created via the merger, operates under the BlackRock brand.

DSP Merrill Lynch Fund Managers will be renamed DSP BlackRock Investment Managers, while DSP Merrill Lynch Mutual Fund will be renamed DSP BlackRock Mutual Fund.

The Indian asset management company was...
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