The sovereign wealth investment fund of Singapore, Temasek Holdings Ltd is now in discussion with Markit Group for the purchase of shareholdings estimated to be around US$500 million. The deal was confirmed by an anonymous source familiar with the transaction.
Should talks be successful, the deal could be completed in the 'next few months', the anonymous source told Reuters, as the talks are deemed confidential.
The spokesman for Temasek said that it does not comment on market speculation. A spokeswoman for Markit declined to provide any comment. The news was broken by Sky News.
Markit was established in 2001 by Canadian Lance Uggla. It first worked out of a barn in St.Alban's, which is twenty miles from London. The main business of the group is providing financial data and trade processing services for the credit market.
General Atlantic, another private equity firm, purchased a minority stake in the firm in January 2010. The majority shareholders in the firm are its employees, other private investors and various financial institutions.
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