S&P Global Completes Sale of Fincentric
S&P Global (NYSE: SPGI) has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm.
Sentiment and the balance of points
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Rhea-AI Summary
S&P Global (NYSE: SPGI) has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm. The transaction, which does not have a material impact on S&P Global, follows the company's announced intent in February 2024 to explore strategic options for the business. Fincentric, formerly known as Markit Digital, became part of S&P Global following the merger with IHS Markit in 2022.
While financial terms were not disclosed, the transaction will include local closings in certain jurisdictions, expected to occur during the remainder of 2024 and into the first half of 2025. Jefferies acted as financial advisor and Davis Polk as legal advisor for S&P Global in this transaction.
Positive
- Successful completion of Fincentric sale, aligning with strategic objectives
- Transaction does not have material impact on S&P Global, suggesting minimal financial risk
Negative
- None.
Details
News Market Reaction – SPGI
The recorded move for SPGI in the trading session of this news was -0.42%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The transaction will include local closings in certain jurisdictions, which are expected to occur during the balance of 2024 and into the first half of 2025.
Fincentric, formerly known as Markit Digital, became part of S&P Global following the company's merger with IHS Markit in 2022. The transaction follows the announced intent in February 2024 to explore strategic options for the business.
Jefferies LLC acted as financial advisor and Davis Polk acted as its legal advisor for S&P Global for the transaction.
About S&P Global
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through sustainability and energy transition across supply chains, we unlock new opportunities, solve challenges, and accelerate progress for the world.
We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com.
Investor Relations:
Mark Grant
Tel: +1 347 640 1521
Mark.Grant@spglobal.com
Media Contacts:
Christina Twomey
S&P Global
+1 (410) 382-3316
christina.twomey@spglobal.com
Farhan Husain
S&P Global Market Intelligence
+1 347 213 0065
farhan.husain@spglobal.com
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SOURCE S&P Global
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