Subsidiary Removal

When a subsidiary is sold or divested, the parent company may want to remove the subsidiary’s data and rating from its Bitsight account to reflect the updated structure. Removing a subsidiary from Bitsight is an important step to ensure that the company’s ratings and metrics are accurate and reflect only its own assets.

How do I remove a subsidiary

Requesting Subsidiary Removal

Follow these steps to request subsidiary removal:

1. Confirm the divestment of the subsidiary: Before you start the removal request, ensure that the subsidiary has been fully sold and is no longer part of your organization’s infrastructure. If the divestment or merger is pending regulatory approval, we must wait for confirmation that the divestment is finalized before ending the relationship.
2. Gather information: When requesting the removal of a subsidiary, you'll need to provide specific details to help verify the divestment and ensure the correct entity is removed. The information required includes:
   • Name of the subsidiary: The full legal name of the subsidiary that was sold.
   • Date of the sale: The date the divestiture was finalized.
   • New ownership details: Information about the new owner of the subsidiary, if relevant.
   • Confirmation of sale: Documentation or official confirmation (such as a press release or annual report) that the subsidiary is now independent from the parent company.
3. Contact Bitsight support to start the removal process. You can do this by submitting a request through the Bitsight platform. Provide the details mentioned above so the team can validate the sale and remove the subsidiary’s report.

Once the support team receives your request, they will review the information provided and verify the details of the subsidiary’s divestment. Support may contact you for further clarification or additional documentation. This process typically takes 1-2 business days.

After completing the verification process, Bitsight will remove the subsidiary’s rating from your organization's infrastructure. You will receive confirmation once the removal has been completed. This process can result in changes to the company’s rating, as we’ll need to refresh the rating to implement this change. See our article regarding these changes on History Refresh.