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BlackRock buys stake in RBL Bank

Global asset management firm BlackRock group has bought a stake in RBL Bank. BlackRock is the world’s largest asset manager with $5.97-trillion under management. According to reports, the group bought the stake from PE firm Gaja Capital, whose stake in the bank will now be reduced to below 1% from 1.41% it held at the end of December. Gaja Capital  had been an anchor investor in the bank and had as much as 5% stake in the bank. It had diluted the stake over a period of time. RBL Bank is now included in the London-based FTSE emerging market mid-cap index. Besides BlackRock, the Vanguard group has also bought substantial number of shares in the bank.

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