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Article: MERRILL LYNCH TO INCREASE STAKE IN INDIA JOINT VENTURE.

Article from:
AsiaPulse News
Article date:
December 8, 2005
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(Full text of a statement. Contact details below.)

NEW YORK-(BUSINESS WIRE)-Dec. 7, 2005-Merrill Lynch (NYSE: MER) today announced that it will increase its 40 per cent ownership interest in DSP Merrill Lynch by up to an additional 50 per cent, to 90 per cent, for approximately $500 million.

The increased ownership by Merrill Lynch will enable the firm to continue to build its important presence as one of the leading securities firms in India.

Hemendra Kothari will continue as Chairman of DSP Merrill Lynch, and will take on added responsibility as a Vice Chairman of Merrill Lynch International supporting Merrill Lynch's growth plans ...

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