Religare’ US-based subsidiary exits from affiliates

New Delhi, July 23 (IANS) Religare Enterprises on Saturday said its wholly owned subsidiary in the US has completed the process of exiting from its two affiliates.

“We would like to inform you that Religare Global Asset Management Inc, USA, wholly-owned subsidiary of the company, has completed its exit from Northgate Capital LLC and Northgate Capital LP, its US-based affiliates,” the company said in a regulatory filing.

The transaction was closed on July 22, following the receipt of all required approvals, the filing said.

Company’s stock closed at Rs 278, up 0.58 per cent on BSE on Friday.

–IANS

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