Bank of India to Acquire 51 Percent Stake in Bharti AXA Investment Managers

Bank of India, a state-run bank, said late Saturday that it would acquire a 51 percent stake in Bharti AXA Investment Managers Pvt Ltd, an asset management company to Bharti AXA Mutual Fund.

Bharti AXA Mutual Fund is a joint venture between Bharti Enterprises and AXA Investment Managers. The remaining stake will be held by France's AXA Group.

Financial terms of the transaction have not been disclosed.