Bank of India will 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 , it added.
Financial terms of the transaction, which was advised by Ernst & Young, were not disclosed.
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