McGraw-Hill Ryerson announces 70% of its equity stake currently held by McGraw-Hill expected to be indirectly acquired by Apollo Global Management as part of McGraw-Hill's agreement to sell its education business to Apollo
November 27, 2012
– McGraw-Hill Ryerson Limited (MHR.TO), announced today that its majority shareholder, The McGraw-Hill Companies, Inc. (MHP), has announced that it has entered into a definitive agreement to sell its Education business to investment funds affiliated with Apollo Global Management, LLC ("Apollo"), subject to certain regulatory approvals and customary closing conditions. The sale is expected to close in late 2012 or early 2013. It is expected that the 70% equity stake of MHR currently held by MHP will be indirectly acquired by Apollo as part of the transaction.