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Nyse Euronext sells stake in India's NSE

04 May 2010  |  4753 views  |  0 stock quotes

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.

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