Religare Enterprises today said that its subsidiary, Religare Capital Markets (RCML), will buy Hong-Kong based equities franchise Central Joint Enterprise (CJE) for an undisclosed sum.
The deal, which will add 30 professionals to RCML's Asian team and stands to provide significant equities coverage across China, Hong Kong and Singapore, is subject to regulatory approval, the company said in a statement.
However, the company did not disclose the financial details of the transaction.
The acquisition will follow a number of appointments to the RCML team, the company added.
"I am delighted to bring such an impressive team into Religare and add considerable depth to our Asia equities business. CJE absolutely stands out for its innovative investment research and exceptional execution capabilities," RCML CEO Martin Newson said.
RCML is the investment banking and institutional securities arm of global financial services group Religare Enterprises.
Shares of Religare Enterprises settled at Rs 406.90, up 0.49 per cent on the Bombay Stock Exchange.
