S&P, IHS to offload units ahead of merger to meet antitrust conditions

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FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York

-S&P Global and IHS Markit said on Monday they would sell a couple of businesses to satisfy antitrust requirements attached to the $44 billion merger of the financial information providers.

S&P Global will sell securities data solutions provider CUSIP Global Services (CGS) to financial data services firm FactSet for $1.93 billion in cash, while IHS will offload its Base Chemicals business to News Corp for $295 million.

The divestments come a month after the pair won U.S. antitrust approval for their planned merger, provided they sell certain businesses and scrap a non-compete agreement with a retail gasoline deals data provider.

While Base Chemicals provides price data and analysis on key industrial chemicals, CGS provides identifiers for financial instruments across exchanges around the world.

IHS and S&P Global said on Monday they expect their combined company to receive net sale proceeds of about $1.3 billion from these deals, which remain subject to further review and approval by antitrust regulators.

S&P Global also said it has pledged to sell its Leveraged Commentary and Data business, along with a related family of leveraged loan indices as a condition for regulatory approval.

(Reporting by Akash Sriram and Subrat Patnaik in Bengaluru; Editing by Ramakrishnan M.)


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