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Temasek To Acquire 5% Stake In NSE From NYSE Euronext

Temasek Holdings, a Singapore-based investment firm, has reportedly agreed to pick up a 5% stake in National Stock Exchange of India (NSE) from NYSE Euronext for $150m.

The deal has been struck less than a month after Temasek invested $200m in the power business of India-based GMR Infrastructure. Two months ago NSE had partnered with derivatives market Chicago Mercantile Exchange (CME) to launch dollar-denominated Nifty derivatives in the US.

Reportedly, Goldman Sachs along with NYSE Euronext, private equity firm General Atlantic and Softbank’s Asian infrastructure fund acquired a 20% stake in the NSE for $490m in 2007.

According to Business Line, at end March 2010, there were 1,470 companies listed on the NSE with a combined market capitalisation of approximately $1.3 trillion.

Manish Kejriwal, senior managing director at Temasek, said: “Temasek continues to focus on investments in India and believes in its long-term potential. We see our investment in NSE as a good proxy to India’s economic growth and the development of its capital markets,” reported the website.