Slaughter and May is advising Moody’s Corporation in relation to its agreement to acquire a majority (51%) stake in Global Credit Rating Company Limited (GCR Ratings).
GCR Ratings is a leading credit rating agency in Africa with operations spanning the continent, including in South Africa, Nigeria, Senegal, Kenya and Mauritius. As part of this transaction, Moody’s is engaging with a South Africa-based empowerment partner who will provide local strategic support through substantial equity participation and representation on the GCR Ratings South Africa board.
The transaction is subject to customary regulatory approvals and is expected to close in Q2 this year.
Slaughter and May acted as deal counsel with support from local counsel in a number of jurisdictions, including South Africa, Nigeria, Senegal, Kenya and Mauritius.