Germany's Deutsche Borse has bought a 5% stake in the Bombay Stock Exchange for Rs. 189 crores ($43 mn). The deal values the BSE at $854 mn. BSE may sell a further 21% to private equity funds. Last month the NYSE Group, private equity firms General Atlantic and Softbank Asia Infrastructure Fund and global investment bank Goldman Sachs bought a 5% stake each in the National Stock Exchange.
The BSE has been planning to sell a total stake of 26% to strategic investors and offload another 25% through an initial public offering as part of efforts to reform the country's markets. A stake in the BSE will give Deutsche Borse a foothold in one of the world's fastest growing capital markets while the BSE will gain access to the German company's technological expertise and access to western markets.
Read more in the MSNBC.com article.
Related Posts:
NYSE, Goldman Sachs, General Atlantic, SAIF to buy 26% in NSE
Deutsche Borse, Singapore Stock Exchange in race to acquire BSE interest
Singapore Stock Exchange leads race for BSE stake
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment