French lender BNP Paribas is reportedly planning to exit its asset management operations in India.
The bank intends to consolidate its Indian business and exit its non-core assets in the country, CNBC-TV18 reported citing unidentified sources.
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The company has reportedly invited expression of interest from prospective buyers, following which private equity player KKR has expressed interest to buy stake.
The French bank may offload its complete stake or a portion of the stake in the unit, and its new CEO Sharad Sharma has given a mandate to optimise operations, the report says.
However, neither BNP Paribas nor KKR has made any official announcement on the subject yet.
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