May 22 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state-owned investment company, bought a stake in Markit Group Ltd. for about $500 million, according to a person with knowledge of the matter.
Temasek’s investment was for a 10 percent stake in the company, the person said, declining to be identified as the terms of the deal were not public. Markit, which provides derivative and bond data and competes with Bloomberg News parent Bloomberg LP, said today that Temasek had made a “significant” equity investment in the company.
“The strength of their position and profile in Asia, an area where we see significant potential and opportunity, will help fuel our growth in the region,” Lance Uggla, chief executive officer of Markit, said in an e-mailed statement. Stephen Forshaw, a spokesman for Temasek, confirmed the company’s investment.
Reuters earlier reported the size of the investment.
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