Religare Enterprises provides update on divestment of Cerestra Advisors

Transaction expected to close by 28 February 2017

Religare Enterprises announced that RGAM Investment Advisers, a wholly-owned subsidiary of the Company, has entered into definitive agreements on 05 January 2017 for the divestment of its stake in its wholly-owned subsidiary, Cerestra Advisors , with (i) TCP-CERESTRA, a company registered under the laws of Cayman Islands; [ii] CERESTRA MANAGERS, a company registered under the laws of India; and (iii) ELEPHANT INDIA FINANCE, a Company registered under the laws of India.

The transaction is expected to be closed by 28 February 2017 following the receipt of all required regulatory approvals.

Powered by Capital Market - Live News