Mahindra & Mahindra Financial Services announced that Manulife Investment Management (Singapore) has acquired a 49% stake in Mahindra Asset Management Company and Mahindra Trustee Company.
Consequent to the above, the shareholding of the Company in Mahindra Asset Management Company and Mahindra Trustee Company has come down from 100% to 51% of the share capital respectively, and accordingly both the companies cease to be wholly owned subsidiaries of the company, but will remain as company's subsidiary.
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