Religare out of mutual fund JV with Dutch Aegon
MUMBAI (Reuters) - Religare Enterprises Ltd said on Friday Dutch insurer Aegon would take full control of their asset management joint venture, but a life insurance venture would carry on unchanged.
Religare agreed to buy Lotus India Asset Management Company Pvt Ltd earlier this month.
Lotus India AMC a joint venture between Fullerton Fund Management Group, a unit of Singapore's state-run investor Temasek, and London-based Sabre Capital Worldwide, has more than 50 billion rupees ($1 billion) of funds under management.
Religare is controlled by the Singh family, who recently sold their stake in drug maker Ranbaxy Laboratories Ltd to Japan's Daiichi Sankyo.
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