CHICAGO and COPENHAGEN, Denmark, July 1 /PRNewswire-FirstCall/ -- Morningstar Europe B.V., a subsidiary of
Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent
investment research, has completed its previously announced
acquisition of a 75 percent ownership interest in Morningstar
Danmark A/S from Phosphorus A/S, bringing its ownership to 100
percent. Morningstar paid Phosphorus A/S U.S. $15.2 million, or approximately DKK 91 million, plus an amount for its share of
first-half 2010 net profits.
Located in Copenhagen,
Morningstar Danmark was established in 2001 by Morningstar Europe and Phosphorus A/S, a Danish
company. Peter Meyer, chief
executive officer, and Torben Bruun,
chief operating officer, will continue to lead the company.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment research in North
America, Europe, Australia,
and Asia. The company offers an
extensive line of Internet, software, and print-based products and
services for individuals, financial advisors, and institutions.
Morningstar provides data on approximately 350,000 investment
offerings, including stocks, mutual funds, and similar vehicles,
along with real-time global market data on more than 4 million
equities, indexes, futures, options, commodities, and precious
metals, in addition to foreign exchange and Treasury markets. The
company has operations in 21 countries and a minority ownership
position in a company based in one other country.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements as that
term is used in the Private Securities Litigation Reform Act of
1995. These statements are based on our current expectations about
future events or future financial performance. Forward-looking
statements by their nature address matters that are, to different
degrees, uncertain, and often contain words such as "may," "could,"
"expect," "intend," "plan," "seek," "anticipate," "believe,"
"estimate," "predict," "potential," or "continue." These statements
involve known and unknown risks and uncertainties that may cause
the events we discussed not to occur or to differ significantly
from what we expected. For us, these risks and uncertainties
include, among others, general industry conditions and competition,
including current global financial uncertainty; the impact of
market volatility on revenue from asset-based fees; damage to our
reputation resulting from claims made about possible conflicts of
interest; liability for any losses that result from an actual or
claimed breach of our fiduciary duties; financial services industry
consolidation; a prolonged outage of our database and network
facilities; challenges faced by our non-U.S. operations; and the
availability of free or low-cost investment information. A more
complete description of these risks and uncertainties can be found
in our filings with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2009. If any of these
risks and uncertainties materialize, our actual future results may
vary significantly from what we expected. We do not undertake to
update our forward-looking statements as a result of new
information or future events.
©2010 Morningstar, Inc. All rights reserved.
MORN-C
Contacts:
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Media—In Chicago: Nadine Youssef, +1
312-696-6601 or nadine.youssef@morningstar.com
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Media—In Copenhagen: Peter Meyer, +45
5134 0260 or peter.meyer@morningstar.dk
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Investors: Please
submit questions to investors@morningstar.com or by fax to 312-696-6009.
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SOURCE Morningstar, Inc.