S&P Global Announces Agreement to Sell Engineering Solutions Business to KKR

NEW YORK, Jan. 17, 2023 /PRNewswire/ — S&P World-wide (NYSE: SPGI) right now declared that it has entered into an settlement to sell its Engineering Solutions business to expense resources managed by KKR, a primary world expense agency and a longstanding consumer of S&P International, for $975 million in income, subject matter to customary order value adjustments.
S&P World-wide now anticipates the divestiture to final result in just after-tax proceeds of about $750 million, which proceeds are envisioned to be applied to fund share repurchases. The settlement follows S&P Global’s introduced intent in November 2022 to divest the enterprise.
“Modern announcement marks the subsequent exciting action in the direction of executing our approach of powering international marketplaces,” said Douglas L. Peterson, President and Main Govt Officer of S&P World. “The divestiture of Engineering Remedies to KKR makes it possible for us to further aim on driving advancement in our main companies. Engineering Options is a powerful organization, and we believe it will carry on to thrive less than KKR’s route.”
Engineering Alternatives provides data, technology, and insights that permit around 6,000 world buyers and 650,000 buyers to enhance workflows and end-user experiences. Its products permit engineers, builders, and architects in many industries to accessibility the knowledge and insights they need to have to produce complicated initiatives and new merchandise.
“We see significant options for Engineering Answers to accelerate expansion, extend its footprint and carry on to innovate as an independent business,” reported Webster Chua, Partner at KKR. “Engineering Methods is trusted by engineers and criteria corporations about the entire world and we seem forward to deepening these interactions by producing prolonged-expression investments in enhanced product coverage, improved workflow options and expanded distribution capabilities.”
KKR is creating the expense as a result of its North The us Fund XIII.
Engineering Remedies grew to become component of S&P World wide subsequent the firm’s merger with IHS Markit early last yr. The transaction, which is issue to receipt of required regulatory approvals and fulfilling other customary closing conditions, is envisioned to shut by the conclude of the next quarter of 2023.

About S&P Global
S&P International (NYSE: SPGI) provides important intelligence. We allow governments, enterprises and folks with the proper info, know-how and linked engineering so that they can make conclusions with conviction. From assisting our shoppers evaluate new investments to guiding them via ESG and energy changeover throughout source chains, we unlock new prospects, address problems and speed up development for the environment.
We are widely sought soon after by several of the world’s top corporations to provide credit rating ratings, benchmarks, analytics and workflow solutions in the world-wide money, commodity and automotive marketplaces. With each individual a single of our choices, we support the world’s top organizations system for tomorrow, currently.

About KKR
KKR is a foremost international expense firm that delivers option asset administration as very well as money marketplaces and insurance coverage methods. KKR aims to deliver eye-catching investment decision returns by following a individual and disciplined investment decision technique, using environment-class persons and supporting development in its portfolio organizations and communities. KKR sponsors investment decision resources that make investments in private equity, credit history and true assets and has strategic companions that handle hedge funds. KKR’s insurance coverage subsidiaries give retirement, lifestyle and reinsurance items under the management of World wide Atlantic Money Group. References to KKR’s investments may possibly incorporate the pursuits of its sponsored money and insurance coverage subsidiaries. For further information about KKR & Co. Inc. (NYSE: KKR), be sure to take a look at KKR’s site at www.kkr.com and on Twitter @KKR_Co.

Advisors
Goldman Sachs & Co. LLC is serving as money advisor to S&P Global, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel. RBC Capital Markets is serving as a economical advisor to KKR, and Simpson Thacher & Bartlett LLP is serving as lawful counsel.


Investor Relations:

Mark Grant
Tel: +1 347 640 1521
[email protected]


Media:


For S&P Global:
Ola Fadahunsi
Tel: +1 212 438 2296
[email protected]

For KKR:
Miles Radcliffe-Trenner
212-750-8300
[email protected]

Forward-Hunting Statements:
This conversation incorporates “ahead-hunting statements” inside the that means of the Private Securities Litigation Reform Act of 1995, Area 27A of the Securities Act of 1933, as amended, and Area 21E of the Securities Exchange Act of 1934, as amended. These forward-wanting statements, which are primarily based on existing anticipations, estimates and projections about long run small business and operating final results, the field and markets in which S&P Global Inc. (the “Enterprise”) run and beliefs of and assumptions created by the Company’s administration contain uncertainties that could noticeably have an effect on the financial or running effects of the Enterprise. Words these types of as “expects,” “anticipates,” “intends,” “options,” “believes,” “seeks,” “will, ” “need to,” “might,” “jobs,” “could,” “would,” “goal,” “estimates” or variations of these kinds of terms and other equivalent expressions are meant to determine such ahead-looking statements, which commonly are not historic in character, but not all ahead-looking statements consist of this kind of identifying phrases. These statements are not ensures of upcoming overall performance and are issue to hazards, uncertainties and assumptions that could trigger actual success to vary materially from people expressed in these kinds of forward-looking statements. We can give no assurance that our anticipations will be attained and hence, true results and results may perhaps differ materially from what is expressed or forecasted in these ahead-on the lookout statements. For instance, these ahead-hunting statements could be influenced by aspects which include, without the need of limitation, pitfalls associated with: (i) the fulfillment of the ailments precedent to consummation of the proposed divesture of the world-wide engineering solutions enterprises, like the potential to secure regulatory approvals on the conditions anticipated, at all or in a timely method (ii) economic, money, political and regulatory disorders, in the United States and in other places, and other variables that contribute to uncertainty and volatility, purely natural and guy-produced disasters, civil unrest, pandemics (e.g., the coronavirus (COVID-19) pandemic (the “COVID-19 pandemic”)), geopolitical uncertainty, and circumstances that could result from legislative, regulatory, trade and policy variations linked with the current U.S. administration (iii) the potential of the Enterprise to productively get better from a catastrophe or other business enterprise continuity dilemma owing to a hurricane, flood, earthquake, terrorist assault, war, pandemic, security breach, cyber-attack, ability decline, telecommunications failure or other organic or man-created celebration, together with the capability to purpose remotely for the duration of prolonged-term disruptions this kind of as the COVID-19 pandemic (iv) the effect of community well being crises, these kinds of as pandemics (like the COVID-19 pandemic) and epidemics and any connected firm or governmental guidelines and steps to secure the health and protection of persons or governmental insurance policies or actions to manage the performing of countrywide or global economies and markets, which includes any quarantine, “shelter in location,” “remain at household,” workforce reduction, social distancing, shut down or comparable actions and guidelines (v) the final result of any probable litigation, govt and regulatory proceedings, investigations and inquiries (vi) adjustments in credit card debt and equity marketplaces, which includes credit rating top quality and spreads (vii) adjustments in monetary marketplaces, money, credit and commodities marketplaces and desire costs (viii) the probability that the transaction may possibly be far more high-priced to complete than anticipated, including as a result of unforeseen aspects or occasions (ix) the parties’ means to satisfy expectations relating to the accounting and tax solutions of the proposed transaction and (x) individuals supplemental pitfalls and factors discussed in experiences submitted with the Securities and Trade Fee (the “SEC”) by the Company from time to time, which include all those discussed under the heading “Risk Factors” in their respective most just lately submitted Annual Experiences on Sort 10-K and subsequent Quarterly Reports on Type 10-Q. Though the listing of elements introduced here is viewed as representative, this list need to not be regarded as to be a finish statement of all opportunity risks and uncertainties. Unlisted variables could existing significant supplemental road blocks to the realization of ahead-seeking statements. Consequences of substance discrepancies in outcomes as as opposed with individuals predicted in the ahead-searching statements could include, between other things, small business disruption, operational challenges, financial decline, lawful legal responsibility to 3rd functions and comparable pitfalls, any of which could have a material adverse effect on the Firm’s consolidated economic condition, effects of operations, credit history rating or liquidity. Other than to the extent required by applicable law or regulation, the Enterprise disclaims any obligation to update any ahead-on the lookout statements contained in this conversation or to or else update any of the earlier mentioned-referenced aspects.

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Source S&P World wide
