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Macquarie exits India wealth management, sells stake to JV partner

Australian financial services group, Macquarie has decided to exit its wealth management arm in India by selling its half of the business to Regilare Enterprises, the owner of the other half. The joint-venture wealth management business was formed in 2007, with ownership equally split between Macquarie and Religare. As of March 31, 2013, the unit had approximately 28 billion rupees…

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