SINGAPORE’S sovereign wealth fund Temasek is set to take a stake worth around $500m (£320m) in Markit, the UK financial data provider.
The state-backed fund is now in advanced negotiations about acquiring the shareholding ahead of a US flotation of Markit, according to a Sky News report.
The percentage of Markit’s equity Temasek will acquire has not been disclosed. The deal is likely to value Markit at more than £3bn.
Last night Temasek and Markit did not comment.