Bank of Baroda to sell stake in UTI AMC to T. Rowe Price
MUMBAI, Nov 9 (Reuters) - Bank of Baroda (BOB.BO: Quote, Profile, Research) said on Monday it signed a definitive agreeement to sell 6.5 percent stake each in UTI Asset Management Co and UTI Trustee Co to U.S.-based T. Rowe Price.
The bank's shareholding in both these companies will fall to 18.5 percent after the divestment, Bank of Baroda said in a statement to the stock exchange. (Reporting by Bharghavi Nagaraju; Editing by Sunil Nair)
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