T. Rowe Price Group (TROW) said it closed on its previously announced transaction to acquire a 26% stake in UTI Asset Management Co Ltd and UTI Trustee Company Pvt. Ltd. for US$142.4 million.
T. Rowe Price acquired a 6.5% stake from each of the original four stockholders, State Bank of India, Punjab National Bank, Bank of Baroda, and Life Insurance Corporation of India, who will each retain an 18.5% stake in UTI Asset Management Company.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.