The Burman family, the majority owner of Indian consumer goods giant Dabur India and one of the wealthiest families in the country, has signed a joint venture agreement with a Portugal-based investment bank. 

Espirito Santo Investment Bank has formed an equity research brokerage joint venture with the Burman family in a deal that will have the Burmans own around 25 per cent of the resulting firm, Espirito Santo Securities. Details on the shareholding pattern were not disclosed. 

The Burman family has various investments across financial services, including an Indian life insurance joint venture with the UK's Aviva Life, where Mohit Burman, general manager of sales at Dabur, holds a 74 per cent stake. Burman also owns 10 per cent in Universal Sompo General Insurance and around 14 per cent in Punjab Tractors. Anand Burman, the chairman of Dabur, is listed in the top 20 richest individuals in India by Forbes Magazine with a net worth of $2.9 billion.