S&P Global Completes Sale of Engineering Solutions Business

S&P Global (NYSE: SPGI) announced that it has completed the sale of its Engineering Solutions business to investment funds managed by KKR, a leading global investment firm. S&P Global received the full proceeds from the sale of $975 million in cash, subject to purchase price adjustments, which S&P expects to result in approximately $750 million of after-tax proceeds.

The transaction will also include local closings in certain jurisdictions, which are expected to occur during the balance of 2023. In the future, the Engineering Solutions business will operate as an independent company by the name of Accuris.

Engineering Solutions became part of S&P Global following the company’s merger with IHS Markit early last year. The transaction follows the announced intent in November 2022 to divest the business.
https://investor.spglobal.com/news-releases/news-details/2023/SP-Global-Completes-Sale-of-Engineering-Solutions-Business/default.aspx

Related Posts

Print Unit Sales Jump in Mid-November

With all categories posting gains of at least 11%, unit sales of print books jumped 19.5% in the week ended Nov. 14, 2020, over the comparable week in 2019, at outlets that report to NPD BookScan. There were no new books that made a big splash in the week, with the overall increase due to strength in both backlist and frontlist titles. The World Needs Who You Were Made to Be by Joanna Gaines was the top new title, selling more than 43,000 copies and helping to lift unit sales in the adult nonfiction category by 11.9%. Unit sales rose 22.5% in adult fiction over the week ended Nov. 16, 2019. Michael Connelly’s The Law of Innocence was #1 in the category, selling more than 43,000 copies in its first week.

Print Book Sales Rose 5% in May (publishersweekly.com)

Though the publishing industry seems to be in a period of malaise, there are some signs that business is improving. Earlier this week, the Association of American Publishers’ StatShot program reported an 18% increase in April sales over a year ago. That news has been followed up by Circana BookScan’s report that unit sales of print books increased 5% in May over May 2023. According to Brenna Connor, industry analyst for U.S. books at BookScan, the May increase was driven by strong Mother’s Day sales, as well as several retail promotional events. As usual, adult fiction was the biggest driver of the increase, and Kristin Hannah’s The Women was the top-selling adult title in May, pushing just over 139,000 copies.

Kohl’s Provides Update on Ongoing Review of Expressions of Interest

Kohl’s Corporation provided the following update regarding the Board of Directors’ ongoing review of expressions of interest in acquiring the Company. The Board acknowledged receipt of multiple preliminary indications of interest. The proposals received are non-binding and without committed financing. The Board has authorized Goldman Sachs to coordinate with select bidders who have submitted indications of interest to assist with further due diligence so that they have the opportunity to refine and improve their proposals and include committed financing and binding documentation.
Back To Top
×Close search
Search