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ICE writes down investment in NCDEX

Posted on 12 February 2009

From Thehindubusinessline.com: Atlanta-based Intercontinental Exchange (ICE) has made a $16-million charge to write down in the value of its 8 per cent stake in the National Commodity and Derivatives Exchange of India.

ICE picked up ICICI’s 8 per cent stake in NCDEX at $37 million in 2006. NCDEX received a valuation of a little less than $500 million when ICICI Bank — one of the original and leading investors in the commex — sold its stake to ICE. …. Full Article: Source


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