Crisil acquires British consultancy firm

By Our Banking Bureau | 18 Dec 2003

Mumbai: In its first overseas acquisition, domestic credit rating agency, CRISIL, has announced having acquired the London-based EconoMatters. With an offer of £1.5 million, which will be met from its internal accruals, CRISIL outbid its US and European rivals to gain control of the company along with its four subsidiaries — Gas Strategies Ltd, Alphatania Ltd, gas Matters Ltd and Overview Conferences.

EconoMatters and its subsidiaries are leading information and business advisory service providers to the energy and gas sectors with petroleum majors like ExxonMobil, Total, British Gas (BG) Petronas, ChevronTexaco Statoil, RWE, ConocoPhillips, Gaz deFranz, along with other global leaders as well as international banks.

The Board of the British company will be reconstituted with CRISIL's ceo and managing director, R Ravimohan, executive directors Hemant Joshi and Roopa Kudva (also chief rating officer) joining the new board.