Religare Enterprises, a Ranbaxy-promoted group company, is looking at buying yet another London-based broking firm, for around Rs 700 crore.Though the name of the firm could not be established, sources close to the developments said talks are in the initial stages.
Sources said the proposed acquisition is likely to increase the scope of Religare’s institutional broking business.This move comes close on the heels of Religare’s 100 per cent acquisition of London-based investment banking firm Hichens, Harrison & Co for about Rs 400 crore through its subsidiary Religare Capital Markets Ltd.The listed entity is being acquired through a mix of equity and debt.
Read more in The Business Standard article.
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