BRIEF-Guangdong Shirongzhaoye unit to sell 51 pct stake in pharma industry JV for 15.1 mln yuan
* Says its unit will sell entire 51 percent stake in a pharma industry JV for 15.1 million yuan, dropping out of the cooperation project
Dec 19 Asset manager Legg Mason Inc said on Monday its largest shareholder, Shanda Group, plans to increase its stake in the company to up to 15 percent as part of a long-term strategic investment agreement.
Baltimore-based Legg Mason also appointed Shanda Group Chief Executive Tianqiao Chen and Robert Chiu, president of Shanda Group, to its board of directors.
Shanda Group had a 10.4 percent stake of Legg Mason as of July 6, according to Reuters data. (Reporting by Nikhil Subba in Bengaluru; Editing by Martina D'Couto)
* Says it plans to set up a joint venture (JV) Mobility Finance Cambodia Plc. with SBI holdings Inc, in August, in Cambodia