Sundaram Finance to acquire Principal AMC for $46m.

Sundaram Finance, a financial and investment service provider in India, agreed to acquire Principal AMC, a mutual fund asset management company, for $46m. Sunil Subramaniam, Managing Director, Sundaram Asset Management Company, said the transaction will strengthen Sundaram MF presence in the market place with the addition of a range of schemes with a good long term performance track record across the large and mid-cap segments.