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NYSE Sells Indian Exchange Holding

The New York Stock Exchange has sold its 5% in the Indian National Stock Exchange for $175 million. A consortium consisting of NYSE, Goldman Sachs, General Atlantic and Softbank Asian Infrastructure Fund acquired 20% of the NSE in 2007. The NYSE share was valued at $115 million, making the U.S. exchange $60 million from the deal
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The New York Stock Exchange has sold its 5% in the Indian National Stock Exchange for $175 million. A consortium consisting of NYSE, Goldman Sachs, General Atlantic and Softbank Asian Infrastructure Fund acquired 20% of the NSE in 2007. The NYSE share was valued at $115 million, making the U.S. exchange $60 million from the deal.

The buyer is Singapore state-owned fund Temasek Holding. The company also purchased $200 million stake in GMR Energy, the Indian power firm, in April 2010.

According to a Bloomberg report, NYSE spokesperson Richard Adamonis said the profits from the deal would go towards repaying debt.

Indian ownership law states that no firm is allowed to own more than 5% of a domestic exchange, hampering NYSE’s ability to make any lasting strategic development in the region.

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