Acquisitions26 Mar 2026, 11:50 am
Gamco Ltd Approves Securities Subscription and Purchase Agreement with Blackstone Inc. Affiliate
AI Summary
Gamco Ltd announced that its finance committee has approved the terms and conditions of a Securities Subscription and Purchase Agreement (SSPA) for the transfer of its entire equity stake in its wholly owned subsidiary, Visco Advisory Private Limited (VAPL), to BREP Asia III India Holding Co II Pte. Ltd., an entity owned by funds managed and/or advised by affiliates of Blackstone Inc. This transaction will result in VAPL ceasing to be a subsidiary of Gamco Limited upon completion, which is expected to occur on or before 31st May 2026, subject to customary conditions precedent.
Key Highlights
- Gamco Ltd's finance committee has approved the Securities Subscription and Purchase Agreement (SSPA) for the transfer of its stake in Visco Advisory Private Limited (VAPL).
- The buyer is BREP Asia III India Holding Co II Pte. Ltd., an entity owned by funds managed and/or advised by affiliates of Blackstone Inc.
- Upon completion, VAPL will cease to be a subsidiary of Gamco Limited.
- The transaction is expected to be completed on or before 31st May 2026, subject to customary conditions precedent.
- VAPL contributed approximately 0.09% of Gamco Limited's consolidated net worth in FY 2024-25.