Invesco completes acquisition of Religare AMC

Has increased its shareholding in the company to 100%

Atlanta-based global investment management firm Invesco has completed acquisition of Religare Mutual Fund. Under the transaction, Invesco has increased its shareholding to 100% in the asset management company, set up as a joint enture with Religare Enterprises. 

The deal was announced in November last year when Invesco had proposed to raise its stake from 51% to 100%. With the completion of the deal, Religare Invesco Asset Management will be renamed Invesco Asset Management. 

The company's management team will remain unchanged with Saurabh Nanavati continuing to be its chief executive officer. He will report to Invesco's Asia-Pacific senior managing director and CEO, Andrew Lo.