NEW YORK -

Fimalac S.A., the French parent company of global ratings agency Fitch Group, recently revealed it is selling an additional 10 percent in the ratings agency to Hearst Corp., parent of Black Book. This brings Hearst to a 50 percent equity stake in Fitch.  

The transaction is valued at $177 million.

Hearst acquired its original interest in Fitch from Fimalac, a public company, in March 2006.

Officials believe the transaction is expected to close in the first quarter of this year after receipt of all necessary regulatory approvals.

“The acquisition of an additional 10 percent interest in Fitch demonstrates our confidence in the company and in its future growth,” said Hearst chief executive officer Frank Bennack Jr.

“We look forward to becoming an equal partner with Fimalac in this important worldwide business,” Bennack continued.

Fitch is comprised of Fitch Ratings, a leading global rating agency committed to providing the world’s credit markets with accurate, timely and prospective credit opinions. Fitch also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services.

For additional information, visit www.fimalac.com.