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Home / Business News / McGraw Hill to take over crisil for Rs 1,900 cr

McGraw Hill to take over crisil for Rs 1,900 cr

McGraw Hill Financial Inc, the company that owns credit rating firm Standard & Poor’s (S&P), on Monday said it will make a voluntary open offer to raise its holding in rating agency CRISIL to 75% in a deal worth about Rs 1,900 crore.

business Updated: Jun 03, 2013, 20:51 IST
HT Correspondent
HT Correspondent
Hindustan Times

McGraw Hill Financial Inc, the company that owns credit rating firm Standard & Poor’s (S&P), on Monday said it will make a voluntary open offer to raise its holding in rating agency CRISIL to 75% in a deal worth about Rs 1,900 crore.

The news of the deal that values CRISIL at s Rs 8,600 crore, sent its shares up 20% to Rs 1,127 on the BSE. McGraw Hill Financial currently holds 52.77% stake in CRISIL.

“The offer to raise our investment in CRISIL represents a vote of confidence in CRISIL, its Board of Directors, leadership team and talented staff, as well as products and services that CRISIL brings to market,” said Harold McGraw III, chairman, president and CEO of McGraw Hill Financial.

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