Temasek buys stake in Markit, boosts ICBC holding

TEMASEK Holdings confirmed two new deals on Wednesday morning: the acquisition of a stake in Markit, a global financial information services company, and an increase in its holding in the Industrial & Commercial Bank of China (ICBC).

Markit said in a press release on Wednesday that the Singapore investment firm had "made a significant equity investment in the company", without specifying the size of the deal or the stake.

Reuters, however, reported that Temasek had paid about US$500 million (S$624 million) for a share of around 10 per cent in Markit, citing an unnamed person familiar with the transaction.

Meanwhile, Temasek also bought another 280 million shares in ICBC, taking its stake in the world's largest bank by market value from 6.71 per cent to 7.04 per cent.

Temasek paid an average price of HK$5.50 a share, or a total of HK$1.54 billion (S$248 million), for the additional ICBC shares, according to statement filed with the Hong Kong stock exchange on Wednesday.

The shares were purchased on the same day that Goldman Sachs exited its ICBC investment, selling 1.58 billion shares for US$1.1 billion, according to Bloomberg.

This is the third time in a year that Temasek has upped its stake in ICBC.