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NYSE Euronext to sell its 4.79pct stake in MCX

Posted on 07 March 2013

NYSE Euronext, which operates the New York Stock Exchange, is selling its 4.79% stake in MCX, the country’s largest commodity exchange. The sale, likely to take place on Thursday, will be at a 3-5% discount to Wednesday’s closing price of Rs 1,058 a share, said a person aware of the development.
Goldman Sachs Fund is expected to be the buyer, he added. The size of the deal would be in the region of Rs 250 crore and comes after a one-year lock in period since the listing of the bourse in March last year. At this price, NYSE will make a small gain of 4-5% on its investment of Rs 240 crore in MCX in 2008………………………………………..Full Article: Source


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