Published December 12, 2014 12:16pm EST | Updated January 8, 2015 3:03pm EST

Hearst To Increase Stake In Fitch Group To 80% In $1.965 Billion Deal

Hearst Corporation said Friday it is increasing its equity stake in Fitch Group to 80% from 50% in a deal valued at $1.965 billion. Hearst will buy the stake from Fimalac S.A. , which will retain the remaining 20% stake in the company. Fitch Group operates Fitch Ratings, a credit rating and financial information company. Hearst first invested in the company in March 2006. The deal is expected to close in the first quarter of 2015.