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

S&P, IHS to offload units ahead of merger to meet antitrust conditions
S&P, IHS to offload units ahead of merger to meet antitrust conditions   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> -S&P Global and <span class="caps">IHS</span> 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.</p> <p>S&P Global will sell securities data solutions provider <span class="caps">CUSIP</span> Global Services (<span class="caps">CGS</span>) to financial data services firm FactSet for $1.93 billion in cash, while <span class="caps">IHS</span> will offload its Base Chemicals business to News Corp for $295 million.</p> <p>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.</p> <p>While Base Chemicals provides price data and analysis on key industrial chemicals, <span class="caps">CGS</span> provides identifiers for financial instruments across exchanges around the world.</p> <p><span class="caps">IHS</span> 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. </p> <p>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.</p> </div>