Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities

If the deal goes through, Tata AMC and UTI AMC's combined entity could become the fourth-largest asset manager in India

The Tata Group is looking to buy a majority stake in India's eighth largest mutual fund UTI Asset Management Co (AMC). The group is in final stages of negotiation to buy the stake from four state-owned financial entities -- Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – which together own 45.16 per cent stake in UTI AMC.
 
According to a report in The Economic Times, a final agreement is being sought on the deal valuation. People privy to the development said the internal approvals are in and the Tata Group has received