S&P International Broadcasts Settlement to Promote Engineering Options Enterprise to KKR

NEW YORK, Jan. 17, 2023 /PRNewswire/ — S&P International (NYSE: SPGI) as we speak introduced that it has entered into an settlement to promote its Engineering Options enterprise to funding funds managed by KKR, a number one international funding agency and a longstanding buyer of S&P International, for $975 million in money, topic to customary buy value changes. 

S&P International at present anticipates the divestiture to lead to after-tax proceeds of roughly $750 million, which proceeds are anticipated for use to fund share repurchases. The settlement follows S&P International’s introduced intent in November 2022 to divest the enterprise.  

“Right this moment’s announcement marks the subsequent thrilling step in direction of executing our technique of powering international markets,” stated Douglas L. Peterson, President and Chief Govt Officer of S&P International. “The divestiture of Engineering Options to KKR permits us to additional deal with driving progress in our core companies. Engineering Options is a powerful enterprise, and we consider it would proceed to thrive below KKR’s course.”

Engineering Options offers information, know-how, and insights that enable over 6,000 international prospects and 650,000 customers to optimize workflows and end-user experiences. Its merchandise allow engineers, builders, and designers in lots of industries to entry the information and insights they should ship complicated tasks and new merchandise.

“We see important alternatives for Engineering Options to speed up progress, develop its footprint and proceed to innovate as an unbiased firm,” stated Webster Chua, Accomplice at KKR. “Engineering Options is trusted by engineers and requirements organizations all over the world and we stay up for deepening these relationships by making long-term investments in enhanced product protection, improved workflow options and expanded distribution capabilities.”

KKR is making the funding via its North America Fund XIII.

Engineering Options turned a part of S&P International following the corporate’s merger with IHS Markit early final 12 months. The transaction, which is topic to receipt of required regulatory approvals and satisfying different customary closing situations, is predicted to shut by the tip of the second quarter of 2023.

About S&P International
S&P International (NYSE: SPGI) offers important intelligence. We allow governments, companies and people with the precise information, experience and linked know-how in order that they’ll make choices with conviction. From serving to our prospects assess new investments to guiding them via ESG and power transition throughout provide chains, we unlock new alternatives, remedy challenges and speed up progress for the world.

We’re broadly wanted by most of the world’s main organizations to supply credit score scores, benchmarks, analytics and workflow options within the international capital, commodity and automotive markets. With each one in all our choices, we assist the world’s main organizations plan for tomorrow, as we speak.

About KKR
KKR is a number one international funding agency that provides different asset administration in addition to capital markets and insurance coverage options. KKR goals to generate engaging funding returns by following a affected person and disciplined funding method, using world-class individuals and supporting progress in its portfolio corporations and communities. KKR sponsors funding funds that spend money on non-public fairness, credit score and actual belongings and has strategic companions that handle hedge funds. KKR’s insurance coverage subsidiaries supply retirement, life and reinsurance merchandise below the administration of International Atlantic Monetary Group. References to KKR’s investments might embrace the actions of its sponsored funds and insurance coverage subsidiaries. For extra details about KKR & Co. Inc. (NYSE: KKR), please go to KKR’s web site at www.kkr.com and on Twitter @KKR_Co.

Advisors
Goldman Sachs & Co. LLC is serving as monetary advisor to S&P International, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as authorized counsel. RBC Capital Markets is serving as a monetary advisor to KKR, and Simpson Thacher & Bartlett LLP is serving as authorized counsel.

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

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

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

Ahead-Wanting Statements:
 This communication accommodates “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. These forward-looking statements, that are primarily based on present expectations, estimates and projections about future enterprise and working outcomes, the business and markets wherein S&P International Inc. (the “Firm”) function and beliefs of and assumptions made by the Firm’s administration contain uncertainties that would considerably have an effect on the monetary or working outcomes of the Firm. Phrases akin to “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “will, ” “ought to,” “might,” “tasks,” “may,” “would,” “goal,” “estimates” or variations of such phrases and different related expressions are supposed to determine such forward-looking statements, which typically should not historic in nature, however not all forward-looking statements embrace such figuring out phrases. These statements should not ensures of future efficiency and are topic to dangers, uncertainties and assumptions that would trigger precise outcomes to vary materially from these expressed in such forward-looking statements. We may give no assurance that our expectations might be attained and due to this fact, precise outcomes and outcomes might differ materially from what’s expressed or forecasted in such forward-looking statements. For instance, these forward-looking statements may very well be affected by elements together with, with out limitation, dangers related to: (i) the satisfaction of the situations precedent to consummation of the proposed divesture of the worldwide engineering options companies, together with the flexibility to safe regulatory approvals on the phrases anticipated, in any respect or in a well timed method; (ii) financial, monetary, political and regulatory situations, in the USA and elsewhere, and different elements that contribute to uncertainty and volatility, pure and man-made disasters, civil unrest, pandemics (e.g., the coronavirus (COVID-19) pandemic (the “COVID-19 pandemic”)), geopolitical uncertainty, and situations which will outcome from legislative, regulatory, commerce and coverage modifications related to the present U.S. administration; (iii) the flexibility of the Firm to efficiently get well from a catastrophe or different enterprise continuity downside attributable to a hurricane, flood, earthquake, terrorist assault, struggle, pandemic, safety breach, cyber-attack, energy loss, telecommunications failure or different pure or man-made occasion, together with the flexibility to perform remotely throughout long-term disruptions such because the COVID-19 pandemic; (iv) the affect of public well being crises, akin to pandemics (together with the COVID-19 pandemic) and epidemics and any associated firm or governmental insurance policies and actions to guard the well being and security of people or governmental insurance policies or actions to keep up the functioning of nationwide or international economies and markets, together with any quarantine, “shelter in place,” “keep at house,” workforce discount, social distancing, shut down or related actions and insurance policies; (v) the end result of any potential litigation, authorities and regulatory proceedings, investigations and inquiries; (vi) modifications in debt and fairness markets, together with credit score high quality and spreads; (vii) modifications in monetary markets, capital, credit score and commodities markets and rates of interest; (viii) the chance that the transaction could also be dearer to finish than anticipated, together with on account of sudden elements or occasions; (ix) the events’ capability to fulfill expectations relating to the accounting and tax therapies of the proposed transaction; and (x) these extra dangers and elements mentioned in studies filed with the Securities and Change Fee (the “SEC”) by the Firm every so often, together with these mentioned below the heading “Danger Elements” of their respective most not too long ago filed Annual Stories on Type 10-Okay and subsequent Quarterly Stories on Type 10-Q. Whereas the record of things offered right here is taken into account consultant, this record shouldn’t be thought of to be a whole assertion of all potential dangers and uncertainties. Unlisted elements might current important extra obstacles to the belief of forward-looking statements. Penalties of fabric variations in outcomes as in contrast with these anticipated within the forward-looking statements may embrace, amongst different issues, enterprise disruption, operational issues, monetary loss, authorized legal responsibility to 3rd events and related dangers, any of which may have a fabric hostile impact on the Firm’s consolidated monetary situation, outcomes of operations, credit standing or liquidity. Besides to the extent required by relevant legislation or regulation, the Firm disclaims any responsibility to replace any forward-looking statements contained on this communication or to in any other case replace any of the above-referenced elements.

SOURCE S&P International