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| ASK To Buy Out Raymond James’ Stake In JV |
Mumbai, March 22, 2007 - The ASK group today announced that it has entered into a share-purchase agreement with Raymond James Financial Inc., USA to buy out its 50 per cent strategic interest in ASK Raymond James for an undisclosed amount.
Subsequent to the buy back, the shareholding in the holding company will fully vest with the ASK group.
The businesses of the holding company continue to be institutional broking, portfolio management services, investment banking and financial planning. Each of these businesses will be carried out through separate operating subsidiaries.
As per the terms of the agreement each company is free to pursue its business goals across all markets of the world.
For further information, kindly contact:
Asit Koticha
Tel – 022 – 66520000
Email – akoticha@askrj.com |
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