| ||Bank of India to join hands with AXA Investment Managers in the Asset Management business in India | 12/05/11 08:30|| |
| ||Bank of India has informed BSE regarding a Press Release dated December 03, 2011, titled, "Bank of India to join hands with AXA Investment Managers in the Asset Management business in India".|
"Bank of India (BOI), one of India's largest public sector banks and AXA Investment Managers Asia Holdings Private Limited (a subsidiary of AXA Investment Managers, part of AXA Group) have agreed to enter into a joint venture in asset management business carried on by Bharti AXA Investment Managers Private Limited (BAIM). BAIM is the asset management company to Bharti AXA Mutual Fund.
In the proposed joint venture, BOI will acquire 51% of the equity and the balance will be with AXA Group.
Ernst & Young were the advisors to the transaction
The above transaction is subject to regulatory approvals."