Wednesday, July 4, 2007

JM Financial buys 60% in ASK Securities

Nimesh Kampani's JM Financial Services, which split its seven-year joint
venture with Morgan Stanley in February, today said it is buying 60% stake in institutional brokerage firm ASK Securities.The company, however, did not disclose the deal size.

ASK Group recently bought out the stake of its overseas partner Raymond
James in the joint venture ASK-Raymond James.

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