Mirae Asset Securities acquires Sharekhan
Mirae Asset Securities (MAS) has acquired Sharekhan Limited in a US$370 million deal.
MAS signed a shared purchase agreement with BNP Paribas SA for the acquisition of Sharekhan, one of India’s major brokerages.
The acquisition is representative of the parent company, Mirae Asset Financial Group's, desire to expand into the country having launched MAS, its Indian subsidiary, in 2018.
An official from MAS said: "With the acquisition of Sharekhan Limited, Mirae Asset Securities has seized the opportunity to predominate the brokerage business in India, which will show long-term growth. We plan to create synergy with Mirae Asset Global Investments, the only foreign asset manager in India.”
