Moneycontrol
Get App
Last Updated : Dec 20, 2019 10:28 AM IST | Source: Moneycontrol.com

CRISIL hits 52-week high on acquisition of Greenwich Associates

The acquisition is expected to be completed by the first quarter of the calendar year 2020.

Representative image
Representative image
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

CRISIL touched 52-week high of Rs 1,811.95, adding over 1 percent intraday on December 20 after the company board approved 100 percent acquisition of Greenwich Associates LLC and its subsidiaries.

The board of directors approved acquisition of 100 percent of the equity share capital of Greenwich Associates LLC and its subsidiaries at a consideration of USD 40 million, subject to closing adjustments.

The acquisition will be done through CRISIL's 100 percent subsidiary, CRISIL Irevna US LLC.

Close

It is subject to regulatory approvals as applicable and meeting other customary closing conditions.

The acquisition is expected to be completed by the first quarter of the calendar year 2020.

The said acquisition will complement CRISIL's existing portfolio of products and expand offerings to new segments across financial services including commercial banks and asset and wealth managers, company said in release.

"With this acquisition, CRISIL will strengthen its position as the foremost global benchmarking analytics provider for financial services, where Coalition is a distinguished provider to corporate and investment banks worldwide," said Ashu Suyash, Managing Director & CEO, CRISIL.

At 10:06 hrs CRISIL was quoting at Rs 1,805, up Rs 16.30, or 0.91 percent on the BSE.

Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.

First Published on Dec 20, 2019 10:28 am
Sections
Follow us on