French bank Natixis will buy 25 percent stake in the asset management arm of India's Infrastructure Development Finance Company, they said in a joint statement on Friday.
Financial details of the deal were not disclosed.
IDFC said the Natixis tie-up would give its asset management arm the opportunity to boost international distribution and gain access to overseas investors who were looking to invest in the Indian equity markets.
The partnership will also allow Natixis, 72 percent owned by cooperative banking group BPCE, to expand its business in Asia, the statement said.
Source: Reuters