Temasek pays $500 million for 10 pct stake in Markit - source

Business & Markets 2013
Written by Reuters
Wednesday, 22 May 2013 10:48
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SINGAPORE (May 22): Singapore state investor Temasek Holdings Pte
Ltd has paid $500 million for a stake of around 10 percent stake in
financial data provider Markit Group, a person familiar with the
transaction said.
Markit said in a statement late Tuesday that the deal had been
completed, but did not confirm how much Temasek had paid.
The deal underlines how far Markit has come since it was formed by a
group of credit traders in 2001, and is expected to help them expand
further into emerging markets.
"The strength of Temasek's position and profile in Asia, an area where
we see significant potential and opportunity, will help fuel our growth in
the region," said Markit Chief Executive Lance Uggla.
The $500 million payment price had been flagged by a source earlier in
May.
Markit made its name providing data for the credit markets but has
since expanded into a range of areas including derivative trade
processing and publishing economic indicators such as their Purchasing
Managers Indexes (PMIs).