Moody’s to be sole owner of Korea Investors Service

[THE INVESTOR] Moody’s Investors Service will become sole owner of Korea Investors Service, local media reported on July 18.

According to reports, NICE Holdings agreed to sell all Korea Investors Service shares held by its subsidiary NICE Infra to Moody’s. NICE Infra currently holds one share less than half of Korea Investors Service. Once the deal is complete, Korea Investors Service will wholly owned by Moody’s. 

The global ratings agency first acquired a stake in Korea Investors Service in 1998, when it bought 10 percent of the Korean company. Moody’s then purchased 400,001 shares to take controlling stake in 2001.

In addition, Moody’s will acquire 24.2 percent of KIS Pricing, a subsidiary of Korea Investors Service.

By Choi He-suk (cheesuk@heraldcorp.com)