Reliance Money says goodbye to Wall Street Finance
Reliance Money said goodbye to Wall Street Finance sold its entire 36.8 per cent stake in its partner. Reliance Money had signed a memorandum with the Wall Street Finance and had acquired 33 per cent stake, as a part of its business strategy.
ANIL DHIRUBHAI AMBANI Group led Reliance Money has said goodbye to its relationship with world’s leading financial service provider Wall Street Finance. Reliance Money has sold its entire 36.8 per cent stake in its partner Wall Street Finance.
The 4282045 shares of the Reliance Money were sold through inter-se transfer to Transways Combines at a rate of Rs 53 per share. Transways Combine is a business promoter of Wall Street Finance. As part of its business strategy Reliance Money signed a memorandum with the Wall Street Finance and acquired 33 per cent stake that was later increased through market transactions.
One of the senior officials of the Reliance Money, Sudip Bandhopadhyay commenting on the business move said, “We have decided to exit our investment in Wall Street Finance by offloading our shareholding to the erstwhile promoters at a profit, as we believe this business conflicts with our venture Reliance Money Express.”
One of the senior officials of the Reliance Money, Sudip Bandhopadhyay commenting on the business move said, “We have decided to exit our investment in Wall Street Finance by offloading our shareholding to the erstwhile promoters at a profit, as we believe this business conflicts with our venture Reliance Money Express.”
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