NEW YORK, May 4 (Reuters) - NYSE Euronext (NYX.N) cashed out of its investment in the National Stock Exchange of India after three years because "strategic avenues" failed to pan out there, the company's chief financial officer said on Tuesday.When we first made the investment we thought of it as a strategic investment," NYSE Euronext COO Lawrence Leibowitz said on a conference call with analysts and media. "We found over time that there weren't a lot of strategic avenues open to us with NSE."
The New York Stock Exchange parent company will receive gross proceeds of $175 million from the sale of its 5 percent stake in NSE, which it said it will use to pay down debt. Reuters reported on Monday the buyer is Singapore state investor Temasek.
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Temasek gets approval to buy 5% in NSE - The Economic Times
Temasek Holdings Acquires 5% Stake In NSE - RTTNews
