The Wall Street Journal-20080128-BlackRock Pushes Overseas

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BlackRock Pushes Overseas

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NEW YORK -- BlackRock Inc., the largest publicly traded U.S. money manager, will buy a 40% stake in India's DSP Merrill Lynch Fund Managers Ltd. as part of a strategy to expand overseas, said Chairman and Chief Executive Laurence Fink, who declined to disclose financial details.

BlackRock is buying the 40% of the asset-management firm from financial-services firm DSP Merrill Lynch Ltd., a unit of Merrill Lynch & Co.