Sydney-based Macquarie Bank has acquired a 50 per cent stake in Religare Enterprises’ wealth management subsidiary.
The bank has bought the stake at par, but hasn’t disclosed the amount received. The wealth management company would be renamed as Religare Macquarie Wealth.The two companies have entered into a JV with the aim of providing advisory-based wealth management solutions to the fast growing high networth investors (HNIs) in India.
Read more in The Business Standard article.
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