Hearst Increases its Stake in Fitch Group

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By: E&P Staff The Hearst Corp. said today it has increased its stake in the ratings agency Fitch Group. Fimalac S.A., the French-based parent company of Fitch Group, sold an additional 20% interest to Hearst.

Hearst now owns 40% of Fitch Group. It first invested in the company in March 2006.

The transaction is valued at 300 million euros, Hearst said.

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