Union Bank,Belgian KBC to invest 50 mn euros in JV
The venture,in which Union Bank will hold 51 per cent stake and KBC the rest,is likely to receive regulatory approval in four to five months.
Written by Reuters
Mumbai |
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Union Bank of India and Belgium’s KBC will jointly invest 50 million euros in their planned mutual fund joint venture,the Indian bank’s Chairman and Managing Director M. V. Nair said on Friday.
The venture,in which Union Bank will hold 51 per cent stake and KBC the rest,is likely to receive regulatory approval in four to five months,he said at a media briefing.
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