Corporate Value Consulting (CVC) to Combine with Duff & Phelps
NEW YORK, Sept. 19 /PRNewswire/ -- Standard & Poor's, a division of The
McGraw-Hill Companies (NYSE: MHP) and a leading provider of independent
investment research, indices, ratings and data, today announced that it has
signed an agreement to sell its Corporate Value Consulting (CVC) business, the
valuation services unit of Standard & Poor's. Under the transaction, the CVC
practice will be combined with Duff & Phelps, a financial advisory and
investment banking firm. The transaction, subject to standard closing
conditions, is expected to close in late September. Terms were not disclosed.
"The divestiture of CVC will enable Standard & Poor's to focus on its core
business of providing independent research, ratings, data, indices and
portfolio services," said Kathleen A. Corbet, president of Standard & Poor's.
"At the same time, the transaction provides an excellent opportunity for the
CVC business to continue its global expansion and serve new markets by joining
forces with Duff & Phelps."
Following the closing, the CVC and Duff & Phelps businesses will be
combined in an independent entity that will operate under the Duff & Phelps
name. Under the terms of the transaction, an investor group and the
management of CVC will acquire the business from The McGraw-Hill Companies
concurrent with the combination of CVC and Duff & Phelps. Financial backing
for the transaction is being provided by Vestar Capital Partners and Lovell
Minnick Partners. GE Capital is also providing debt financing.
About Standard & Poor's:
Standard & Poor's is the world's foremost provider of independent credit
ratings, indices, risk evaluation, investment research and data. With
approximately 6,700 employees located in 21 countries, Standard & Poor's is an
essential part of the world's financial infrastructure and has played a
leading role for more than 140 years in providing investors with the
independent benchmarks they need to feel more confident about their investment
and financial decisions. For more information, visit www.standardandpoors.com.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies is a leading global information
services provider meeting worldwide needs in the financial services, education
and business information markets through leading brands such as Standard &
Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than
300 offices in 40 countries. Sales in 2004 were $5.3 billion. Additional
information is available at www.mcgraw-hill.com.
About Duff & Phelps:
Duff & Phelps is a financial advisory and investment banking firm focused
on providing merger & acquisition, private placement, valuation, financial
opinion and ESOP/ERISA services. Since 1932, Duff & Phelps has been committed
to delivering independent advice and service of exceptional quality to a broad
range of public and private companies. Further information can be found at
www.duffandphelps.com.
SOURCE The McGraw-Hill Companies
-0- 09/19/2005
/CONTACT: Standard & Poor's
Michael Privitera
Vice President, Public Affairs
(212) 438- 6679 (office)
(518) 755-3278 (cell)
michael_privitera@standardandpoors.com
The McGraw-Hill Companies
Steven H. Weiss
Vice President, Corporate Communications
(212) 512-2247 (office)
(917) 374-2024 (cell)
weissh@mcgraw-hill.com /
/Web site: http://www.mcgraw-hill.comhttp://www.standardandpoors.comhttp://www.duffandphelps.com /
(MHP)
CO: The McGraw-Hill Companies; Standard & Poor's; Duff & Phelps
ST: New York
IN: PUB FIN
SU: TNM
MC
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5086 09/19/200510:00 EDThttp://www.prnewswire.com