Stock market index provider MSCI Inc said it would sell proxy advisory unit Institutional Shareholder Services (ISS) to private-equity firm Vestar Capital Partners for $364 million to focus on its risk investment products and services business.MSCI said in October that it was exploring a sale or other options for the influential and often-controversial business.ISS has drawn much criticism in recent times as companies and trade groups such as the U.S. Chamber of Commerce have questioned its methodologies and periodic opposition to management on various high-profile matters.The unit accounted for about 12 percent of MSCI's total revenue of $267.6 million in the fourth quarter.
Shares of MSCI remained unchanged at $45.62. In the past year, the shares have traded as low as $31.63 and as high as $46.40. On average, 560535 shares of MSCI exchange hands on a given day and today's volume is recorded at 0.
Source
