Nippon Life raises stake in India's Reliance Capital fund unit

October 13, 2015 8:51 AM

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MUMBAI Oct 13 Japan's Nippon Life Insurance has agreed to invest 11.96 billion rupees ($184 million) in the fund management unit of Indian financial services firm Reliance Capital Ltd to buy an additional 14 percent stake.

With the fresh investment, Nippon Life will raise its stake in Reliance Capital Asset Management to 49 percent, the Indian company said in a statement on Tuesday. Nippon Life had first acquired 26 percent stake in the fund manager in 2012.

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