Blackstone, Goldman Among Nine Buyers for UTI Stake, Mint Says
By Subramaniam Sharma
Feb. 23 (Bloomberg) — Blackstone Group LP, Goldman Sachs
Group Inc., Shinsei Bank Ltd. are among nine investors chosen by
UTI Asset Management Co. for selling 16 million shares, or 11.35
percent of its equity, before a planned initial public offering,
the Mint reported, citing people familiar with the transaction.
National Australian Bank Ltd., the Bank of New York Mellon
Corp., Sequoia Capital LLP., two sovereign funds from West Asia
and a Belgian bank have been short listed, the report said.
UTI wont sell more than 5 percent stake to any one investor.
The mutual fund company been advised by its investment bankers to
sell the shares at 450 rupees-to-550 rupees ($13.73), raising a
maximum 8.8 billion rupees, the newspaper reported.
UTI managed 526.6 billion rupees in stocks and bonds on Jan.
31, according to Bloomberg data.
To contact the reporter on this story:
Subramaniam Sharma in New Delhi at
