Nyse Euronext sells stake in India's NSE
04 May 2010 | 4685 views | 0
Nyse Euronext has agreed to sell its five per cent stake in India's National Stock Exchange to Singapore state investor Temasek for more than $150 million, according to press reports.
The Mumbai-based NSE was set up in the mid 1990s as a demutualised electronic exchange by ICICI Bank, Industrial Finance Corporation of India, IL&FS Trust Company, Punjab National Bank and General Insurance Corporation of India.
Nyse acquired its five per cent stake - which is the most a foreign investor can hold in India's exchanges - for $115 million in 2007. At the time Goldman Sachs, General Atlantic and Softbank Asian Infrastructure Fund all acquired stakes in the bourse as well.