Jio Financial, Blackrock form JV to set up wealth management and broking business [Reuters]
BlackRock, Inc. (BLK)
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Source: Reuters
MUMBAI, April 15 (Reuters) - India's Jio Financial Services (JIOF.NS) New Tab , opens new tab has entered into a joint venture with U.S.-based BlackRock Inc (BLK.N) New Tab , opens new tab to set up a wealth management and broking business, the companies said on Monday. Jio Financial Services, part of billionaire Mukesh Ambani led-Reliance Group, and BlackRock formed a 50:50 joint venture to launch asset management services in India in July 2023. The two companies had planned an initial investment of $150 million each in the joint venture. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Reporting by Sethuraman NR and Indranil Sakar in Bengaluru; Editing by Tasim Zahid Our Standards: The Thomson Reuters Trust Principles. New Tab , opens new tab Why this portfolio manager likes Chinese stocks 'Low probability' of rates moving higher -portfolio manager Wall Street indexes rise after strong jobs data US stoc
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Sec Filings
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- 4/12/24 - Form 8-K
- 4/10/24 - Form PX14A6G
- BLK's page on the SEC website