Deutsche Boerse acquires a stake in Bombay Stock Exchange

Deutsche Boerse has said that they have acquired a 5% stake in India’s Bombay Stock Exchange (BSE). The deal is worth around $910 million.

A BSE spokesperson said that the deal represented “fair value”. In other news, the Singapore Exchange has said that they are still talking with BSE for a possible sale of 5% stake in the company.

The Bombay Stock Exchange happens to be the Asia’s oldest bourse and market sources claim that they are planning to sell off a total of 26% of its business.

Deutsche Boerse added in a statement that this deal would help them to “strengthen their collective competencies across a broad spectrum of business areas”.

The company said: “The agreement brings together two institutions of impeccable pedigree and proven capabilities to work towards exploring opportunities to grow the respective exchanges.”