Ambani To Sell Stake In Asset Management Biz

Sep 27 2011 | 1:08pm ET

Indian billionaire Anil Ambani may sell another stake in his Reliance Capital's fund management business.

Ambani, who sold a 5% stake in Reliance Capital Asset Management to hedge fund Eton Park Capital Management four years ago, is now in talks to sell one to Nippon Life Insurance Co. "Definitive news" on a deal is expected soon, Bloomberg News reports.

Ambani is seeking to reduce his empire's debt—which stands at US$15 billion—as he plans a banking foray to compete with his estranged brother's business empire. Proceeds from the Reliance Asset sale would used to pay down debt.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of