India's Religare Enterprises to buy control of South African broker - report.

By bne IntelliNews July 26, 2011
Religare Capital Markets (RCML), the investment banking arm of India's Religare Enterprises will acquire a controlling stake in South African broker Noah Financial Innovation, the Economic Times newspaper reported. RCML plans to leverage Noah's local platform to connect domestic and global investors to the South African market, Martin Newson, CEO of RCML, was quoted as saying. The Johannesburg-based firm will be co-branded Religare-Noah, the newspaper said.
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