ASK group enters into agreement with Raymond James Financial Inc

Thursday, March 22, 2007, 21:14 [IST]

Mumbai, Mar 22 (UNI) ASK group today announced that it had entered into a share-purchase agreement with Raymond James Financial Inc, the US, to buy out its 50 per cent strategic interest in ASK Raymond James for an undisclosed amount.

ASK Raymond James Managing Director Asit Koticha told mediapersons that subsequent to the share purchase, the shareholding in the holding company will fully vest with the ASK group.

The businesses of the holding company continue to be institutional broking, portfolio management services, investment banking and financial planning. Each of these businesses will be carried out through separate operating subsidiaries, he said.

As per the terms of the agreement, each company is free to pursue its business goals across all markets of the worldm he added.

UNI

Topics: nnounced, entered, share-purchase, agreement, raymond, james, financial

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