| IDFC to buy StanChart MF biz for $205mn |
| BS Reporter / Mumbai March 7, 2008 |
| Infrastructure Development Finance Company (IDFC) will acquire the asset management business (AMC) of Standard Chartered Bank in India for a total consideration of $205 million (approximately Rs 830 crore) in an all-cash deal. The deal amounts to 5.67% of the total assets under management of Rs 14,141 crore of StanChart's AMC at the end of February 2008. The deal comes after Reserve Bank of India, in December, rejected Swiss major UBS AG |
