Bank of India has amongst other parties entered into a Share Purchase Agreement (SPA) with AXA investment Managers Asia Holdings (AXA IM) on 2 December 2020, whereby Bank of India has agreed to purchase AXA IM's (a) entire 49% equity shares in BOI AXA Investment Managers (BALM); and (b) entire 49% equity shares in BOI AXA Trustee Services (BATS).
After the captioned acquisitions, both BAIM and BATS will be wholly owned subsidiaries of Bank of India.
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