Attention: Business/Financial Editors
Stock Symbol: MHR
McGraw-Hill Ryerson Limited Announces Indirect Acquisition of its Majority Shareholder’s Interest by Apollo Global Management
Whitby – McGraw-Hill Ryerson Limited (TSX:MHR), announced today that its majority shareholder,
The McGraw-Hill Companies, Inc. (NYSE: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.
Brenda Arseneault, Chief Financial Officer and Secretary-Treasurer
McGraw-Hill Ryerson Limited (905) 430-5223