India's SBI to sell stake in UTI to T. Rowe Price
MUMBAI, Nov 9 (Reuters) - State Bank of India (SBI.BO: Quote, Profile, Research), the country's largest lender, said on Monday it had entered into an agreement with T. Rowe Price to sell a 6.5 percent holding each in UTI Asset Management Company and UTI Trustee Company.
State Bank currently holds 25 percent in each of the companies and after the sale its holding would be reduced to 18.5 percent, it said in a statement. (Reporting by Janaki Krishnan)
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