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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.