S&P Global Completes Sale of Fincentric

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.

News Market Reaction – SPGI

-0.42%

1 alert

-0.42% News Effect

On the day this news was published, SPGI declined 0.42%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Aug. 15, 2024 /PRNewswire/ -- S&P Global (NYSE: SPGI) today announced that it has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm. The transaction does not have material impact to S&P Global and the financial terms of the transaction were not disclosed.

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

FAQ

What business did S&P Global (SPGI) sell in August 2024?

S&P Global (SPGI) sold its Fincentric business to Stellex Capital Management in August 2024.

When did S&P Global (SPGI) announce its intent to explore strategic options for Fincentric?

S&P Global (SPGI) announced its intent to explore strategic options for Fincentric in February 2024.

How did S&P Global (SPGI) acquire the Fincentric business?

S&P Global (SPGI) acquired Fincentric, formerly known as Markit Digital, following its merger with IHS Markit in 2022.

When are the local closings for the Fincentric sale expected to be completed for S&P Global (SPGI)?

The local closings for the Fincentric sale are expected to occur during the remainder of 2024 and into the first half of 2025.