Religare Enterprises Ltd (REL)is going to divesting stake in company’s US-based affiliates- Northgate Capital LLC and Northgate Capital LP-for an undisclosed amount to The Capital Partnership Group.

Religare Enterprise has said in a BSE filing that “The company has entered into a definitive agreement to divest its stake in Northgate Capital LLC and Northgate Capital LP, the US-based affiliates, which are part of its alternatives focused global asset management business, and their subsidiaries (Northgate).”

It said that The Capital Partnership Group will be buying its stake.

“REL holds its stake in Northgate through its step-down subsidiary, Religare Global Asset Management Inc, USA. The closing of the transactions is subject to customary conditions including necessary regulatory approval processes,” it added.

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