Bank of India to acquire 51% stake in Bharti AXA

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.