9th Nov 2009 07:00
RNS Number : 1669C
State Bank Of India
09 November 2009
LISTING AGREEMENT: CLAUSE 36
UTI ASSET MANAGEMENT COMPANY LIMITED (UTIAMC)
UTI TRUSTEE COMPANY PRIVATE LIMITED (UTITC)
DIVESTMENT OF STAKE IN FAVOUR OF
A FOREIGN STRATEGIC INVESTOR
In terms of Clause 36 of the Listing Agreement, we advise that State Bank of India has entered into definitive agreement with T. Rowe Price for proposed divestment of 6.5% stake in UTI Asset Management Company and UTI Trustee Company. SBI currently holds 25% share in each of the above Company. Post divestment, SBI’s shareholding in each of these Companies will be reduced to 18.5%.
The transaction is subject to requisite Statutory and Regulatory approvals.
Yours faithfully,
(S.W.Tanksale)
General Manager
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