McGraw Hill Financial has made an open offer to acquire up to 15,670,372 shares from the public shareholders of CRISIL, a global analytical company which provides ratings, research and risk and policy advisory services. The share amount equals 22.23% of the total equity shares outstanding in CRISIL. Full acceptance of the offer would increase McGraw Hill Financial’s total stake in CRISIL to 75% from 52.77%.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]
The parties intend to purchase the shares at an offer price of ₹1,210 (US$21.42) per share, making the total value of the deal approximately ₹19 billion.
Singhania & Partners advised McGraw Hill Asian Holdings, along with McGraw Hill Financial, S&P India and Standard & Poor’s International, on the voluntary open offer under the Securities and Exchange Board of India’s takeover regulations. The team was led by the firm’s senior partner Ravi Singhania and partner Manish Kumar Sharma and was supported by senior associate Shradha Dubey and associate Medha Shah.
Khaitan & Co advised Morgan Stanley India as the manager to the issue. The team included partner Arindam Ghosh and executive director Sudhir Bassi.
[/ihc-hide-content]
