Temasek buys NYSE's NSE stake
Singapore SWF Temasek Holdings has said publicly that it will invest in the National Stock Exchange of India, buying a 5% stake from NYSE Euronext.
Temasek will reportedy pay around $150-180 million for the stake in Mumbai's unlisted NSE. “We see our investment in NSE as a good proxy to India’s economic growth and the development of its capital markets,” Manish Kejriwal, Temasek Senior MD, said publicly. NYSE bought its NSE stake in early 2007 for $115 million, alongside General Atlantic, Goldman Sachs and Softbank Asian Infrastructure Fund, which also picked up 5% apiece - the maximum allowed under Indian regulations.
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