Hearst Acquires Remaining Stake In Fitch Group For $2.8 Bln

(RTTNews) - Hearst said that it has purchased from Fimalac S.A. an additional 20 percent interest in global financial information services company Fitch Group, bringing Hearst's equity interest to 100 percent. The transaction is valued at $2.8 billion. Hearst acquired its original interest in Fitch Group in 2006, and increased its holdings to 80 percent in 2015.

Fitch Group—comprised of three core businesses, Fitch Ratings, Fitch Solutions and Fitch Learning—is an international leader in the financial services industry.

Taylor joined Fitch Group in 2000 and was appointed president of Fitch Ratings in 2010. He currently serves as president, chief executive officer and group head of Fitch Group and is a senior vice president of Hearst.