State Bank of India has entered into definitive agreement with T. Rowe Price for proposed divestment of 6.5% stake in UTI Asset Management Company and UTI Trustee Company. State Bank of India currently holds 25% share in each of the above company. Post divestment, SBI's shareholding in each of these companies will be reduced to 18.5%.
The Bank made this announcement on 09 November 2009.
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