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Goldman seeks stake in India's commodities and derivatives exchange
Submitted by cpowell on Thu, 2006-06-29 01:06
Section: Daily Dispatches
From Reuters
Thursday, June 29, 2006
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
MUMBAI -- Investment bank Goldman Sachs is in talks to buy up to 10 percent of India's National Commodity & Derivatives Exchange, a source close to the development said on Thursday.
"The negotiations are in an advanced stage. I would not be surprised if a formal announcement of the deal comes out in the next 48 hours," he said. "ICICI would be selling between 5-10 percent."
ICICI Bank Ltd., India's second-largest lender, holds about 15 percent in the unlisted commodity exchange.
An ICICI spokesman declined comment, while Goldman Sachs could not be immediately reached.
