Religare Enterprises Ltd said that its subsidiary Religare Capital Markets Ltd (RCML), has acquired the UK operations of Barnard Jacobs Mellet. No financial details were provided.
Barnard Jacobs is a highly-rated distribution platform for South African equities in the UK, serving over 100 institutional clients. The business will operate under the Religare brand and will be integrated into RCML's rapidly expanding emerging markets platform. The deal adds eight professionals to RCML's team who provide market-leading distribution and execution for South African equities.
In September, Religare also acquired a 50% stake in Sri Lankan Stock broking firm Bartleet Mallory Stock Brokers.
On Tuesday, Religare Enterprises declined 1.71% to Rs496.15 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.33% down at 19,691.84 points.
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