Religare Enterprises has entered into a definitive agreement to divest its stake in Northgate Capital LLC and Northgate Capital LP, US based affiliates, which are part of its alternatives, focused global asset management business, and their subsidiaries (Northgate). The company holds its stake in Northgate through its step-down subsidiary, Religare Global Asset Management Inc., USA. The closing of the transactions is subject to customary conditions including necessary regulatory approval processes. The transaction is expected to be completed by July 15, 2016.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
