Credit rating agency CRISIL Ltd said on Wednesday it would sell 90 percent stake in its UK subsidiary, Gas Strategies Group Ltd, to the management of the firm for an undisclosed sum.
The UK firm provides consulting, training and information services for the international energy business.
CRISIL would retain 10 percent stake in the company, which contributed 10 percent of the CRISIL Group's consolidated revenues for the nine months to September, it said in a statement.
The sale was part of a review of the group's strategy in the infrastructure advisory business, wherein it plans to focus on opportunities in India and other emerging markets.(Reuters)