Temasek acquires 10% stake in Markit

Temasek acquires 10% stake in Markit

Temasek, Singapore's state-owned investment company, has acquired a 10% stake in financial data firm Markit for $500 million.

The investment - which increases Markit's links to Asia - values the company at $5 billion.

Lance Uggla, chief executive officer of Markit, says of Temasek: "The strength of their position and profile in Asia, an area where we see significant potential and opportunity, will help fuel our growth in the region."

Equally, the stake sale diversifies the company's shareholder base which includes employees, institutional funds and investment banks, and has been a cause for concern among regulatory agencies and anti-trust bodies.

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