The acquisition of Fitch by US fund Lighthouse has been approved by the holders of 97 per cent of Fitch shares, meaning that the deal has in effect been completed bar technicalities.
Fitch’s non-executive directors are now preparing to resign, but a spokeswoman says it is “business as usual” at the group. The consultancy is expected to de-list officially from the London Stock Exchange shortly.
Other changes at Fitch will include a concentration on improving standards of multimedia and product design at offices around the world, says the spokeswoman. The chief reason behind the deal was to allow Fitch greater opportunity to expand. “We are no longer accountable to the City, we are accountable to one shareholder Lighthouse,” says the spokeswoman.