Future Capital to buy 50.1% in Centrum Direct

New Delhi, Mar 11 (UNI) Financial services firm Future Capital Holdings Ltd today said it would acquire 50.1 per cent stake in money changer company Centrum Direct Ltd for Rs 75 crore.

Future Capital will acquire 50.1 per cent stake in Centrum Direct Ltd, which is a unit of Centrum Capital Ltd for Rs 75 crore, a company statement said.

Future Capital will also invest Rs 25 crore for a 50.1 per cent stake in a new wealth management joint-venture firm Centrum Wealth Managers Ltd.

Centrum Capital's existing retail broking, portfolio management and financial products distribution business will be moved to the new joint-venture firm, the statement added.

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