Religare Capital Markets in pact with Garanti Securities

NEW DELHI: Religare Capital Markets Ltd ( RCML), the investment banking and institutional securities arm of global financial services group Religare Enterprises Ltd, and Turkey’s Garanti Securities have entered into an agreement on strategic cooperation in investment banking.

In a move which further extends RCML’s reach in global emerging markets investment banking, the strategic relationship with Garanti Securities extends to advisory on cross-border mergers and acquisitions, private capital raising, distribution of initial public offerings and co-investment opportunities related to India and Turkey.

The accord is well-timed, with India and Turkey in the latter stages of negotiating a free trade agreement and with bilateral trade poised to touch $5 billion by 2011, according to the Indian government. Consistent with RCML’s commitment to offer meaningful expertise and access to relationships in all of the world’s key emerging markets, the deal with Garanti Securities offers the clients of both firms a clear advantage as activity increases in the trade and investment corridor between India and Turkey.

Commenting on the development, Martin Newson, CEO, Religare Capital Markets Ltd, said: “This is an important development for us and helps us further strengthen our global network. Turkey is one of the world’s most dynamic economies based on its mix of modern industry and traditional agriculture. With a growing population, an established consumer class and a private sector emerging strongly from privatization, there are notable commercial and cultural resonances with India and other parts of the globe. Garanti Securities is an undisputed market leader in the Turkish capital markets and we are proud to be associated with them.”