The New York Stock Exchange (NYSE) exited from the National Stock Exchange (NSE) by transferring the 5 percent stake it held, to Singapore government-held Temasek investment entity, Aranda Investments..With this NYSE exits its 2007 stake in the Indian exchange. Though no reasons have been forthcoming regarding the exit, sources speculate that NSE’s tie up with Chicago Mercantile Exchange (CME) did not go well with NYSE. NYSE and the CME have been traditional rivals..The disinvestment is valued to be around Rs. 822 crores ($175 million). NYSE was advised by the team from the Mumbai office of AZB & Partners led by Partner Darshika Kothari, who advised them on the negotiating and drafting of definitive transaction documentation and regulatory applications, corporate approvals and other miscellaneous documentation involved with the transaction. The firm also provided advisory services in relation to Indian regulatory and compliance matters.
The New York Stock Exchange (NYSE) exited from the National Stock Exchange (NSE) by transferring the 5 percent stake it held, to Singapore government-held Temasek investment entity, Aranda Investments..With this NYSE exits its 2007 stake in the Indian exchange. Though no reasons have been forthcoming regarding the exit, sources speculate that NSE’s tie up with Chicago Mercantile Exchange (CME) did not go well with NYSE. NYSE and the CME have been traditional rivals..The disinvestment is valued to be around Rs. 822 crores ($175 million). NYSE was advised by the team from the Mumbai office of AZB & Partners led by Partner Darshika Kothari, who advised them on the negotiating and drafting of definitive transaction documentation and regulatory applications, corporate approvals and other miscellaneous documentation involved with the transaction. The firm also provided advisory services in relation to Indian regulatory and compliance matters.