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Religare Enterprises Ltd To Acquire Macquarie Group Ltd's Stake In Wealth Management Joint Venture

Monday, 2 Sep 2013 09:19am EDT 

Religare Enterprises Ltd announced its decision to acquire Macquarie Group Ltd’s stake in its wealth management joint venture - Religare Macquarie Wealth Management Limited. The equal partnership JV was formed in 2007 to serve the fast growing Indian High Net Worth individuals (HNI) client base, leveraging Religare’ s local knowledge and Macquarie’s global expertise. Post completion of the transaction and necessary formalities, the legal entity will be rechristened as Religare Wealth Management Limited (RWML) and will form a part of the broader Capital Markets Business of Religare group. There will be no change in the management team and the team will report to Basab Mitra, CEO –Capital Markets and Wealth Management for Religare group. Financial terms of the transaction were not disclosed. 

Company Quote

-4.05 -1.26%
19 Dec 2014