On May 7, 2018, BlackRock announced an agreement with The DSP Group to sell its minority interest in DSP BlackRock Investment Managers to The DSP Group.
Under the terms of the agreement, BlackRock, Inc. (“Blackrock”) will sell its 40% minority stake in its joint venture with The DSP Group (“DSP”), DSP BlackRock Investment Managers Pvt. Ltd. (“DSP BlackRock”), to DSP. The transaction is expected to close upon the finalization of investment scheme unitholder communications and naming transfers, and is subject to regulatory approval. Further terms of the transaction were not disclosed.
BlackRock (NYSE: BLK) is an investment management firm with its headquarters in New York. BlackRock has $6.317 trillion in assets under management as of March 31, 2018.
DSP is an Indian financial services firm founded in the 1860s that specializes in capital markets and money management.
DSP BlackRock, is an investment management firm based in India and joint venture between DSP and BlackRock. It was originally a joint venture between DSP and Merrill Lynch Investment Managers (“Merril Lynch”) formed in 1996 before BlackRock took over Merrill Lynch’s global asset management business in 2006.
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