Nyse Euronext sells stake in India's NSE

Nyse Euronext sells stake in India's NSE

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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