Just what has Invesco bought into in India?
The US-based manager has signed a deal to acquire a 49% stake in Religare AMC, a fast-growing Indian house with global ambitions.
Religare AMC is a nascent but fast-growing Indian business that has been on the lookout for a powerful global franchise to tie-up with for some time. Those plans look set to come to fruition.
US-based firm Invesco revealed yesterday it had entered into a definitive agreement to buy 49% of Religare AMC, the $2.6 billion asset management arm of Religare Enterprises. Invesco declined to disclose what it paid for the deal when asked by AsianInvestor.
The joint venture is to be calle…
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