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FIMALAC SA

Hearst Corporation to Increase Equity Interest in Fitch Group to 80 Percent

Hearst Corporation announced that it will purchase from Fimalac S.A. an additional 30 percent interest in global ratings agency Fitch Group, bringing Hearst’s equity interest to 80 percent.  Fimalac will retain a 20 percent equity interest in Fitch Group. The transaction is valued at $1.965 billion. Hearst acquired its original interest in Fitch Group in March 2006 and had most recently held 50 percent of ... Read More »

Fitch Group Acquires 7city Learning – Announces Formation of Fitch 7city Learning

Fitch Group today announced it has acquired 7city Learning, a leading provider of learning and development solutions for the financial services industry.  Fitch is combining 7city with its Fitch Training unit to form Fitch 7city Learning, a global leader in financial training. Paul Shaw, previously CEO of 7city, will lead Fitch 7city Learning. The financial terms of the transaction have ... Read More »

Hearst Raises Stake In Fitch Ratings To 50%

Hearst Corp agreed to buy another 10 percent of rating agency Fitch Group for $177 million as the media giant continues to diversify away from its newspaper foundations. Hearst bought the stake from France’s Fimalac SA (LBCP.PA). The two companies now each own 50 percent of Fitch, considered the third rating agency behind Moody’s Corp (MCO.N) and Standard & Poor’s, ... Read More »