Crisil sells subsidiary in a MBO deal
Crisil, the credit rating agency, has sold a majority stake in Gas Strategies Group, in a management buyout transaction. Crisil had paid 1.5mn pounds to acquire a 100% stake in the Gas Strategies Group (then known as EconoMatters) in December 2003. As of December 2007, it held 400,000 shares of Gas Strategies Group with a book value of Rs 16.2 crore.