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Noah sold to Religare

Broking firm Noah Financial Innovation, a company offering research services to the institutional investment sector, has been sold to Indian investment banking company Religare Enterprises.

26 Jul 2011

According to Noah's chief executive Raymond Ndlovu the deal represents a "milestone" in the South African securities sector as it is the first time that a black economic empowerment company has been sold to an international investment bank.

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Indian firm buys SA BEE broker

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