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McGraw-Hill Education Acquires Tata Group's Stake in India Joint Venture

Source : PR NEWSWIRE
July 18, 2013

Company acquires full ownership to consolidate and expand its presence in India


McGraw-Hill Education today announced the completion of its acquisition of the entirety of shares in Tata McGraw-Hill Education Private Limited, the company's long-existing joint venture with Tata Group. As part of the agreement, McGraw-Hill Education purchased the minority ownership stake in the company held by two Tata charitable trusts. The purchase comes as McGraw-Hill Education increases its focus on providing its educational solutions and services globally. Further terms of the acquisition were not disclosed.

 

"As India has made great strides in developing its economy, its need for an educated, skilled workforce has increased enormously," said Buzz Waterhouse, president and chief executive officer of McGraw-Hill Education. "We're extremely proud of Tata McGraw-Hill's success in preparing India's students to thrive in the global knowledge economy, and through this acquisition, we're deepening our commitment to improving education and results for students around the world."


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