By Dave Sebastian

 

IHS Markit Ltd. and S&P Global Inc. said they agreed to sell IHS Markit's Oil Price Information Service and related assets to News Corp for $1.15 billion.

The businesses being sold also include Coal, Metals and Mining and PetroChem Wire, the companies said Monday. S&P Global in late 2020 agreed to buy IHS Markit for about $44 billion, a landmark deal that would combine two of the largest providers of data to Wall Street.

S&P Global and IHS Markit said the sale marks the culmination of their decision to explore a divestiture of the businesses as it works to get regulatory approval for the combination. They said they expect to complete the sale at the close of the combination in the fourth quarter.

News Corp, which owns The Wall Street Journal, HarperCollins Publishers and news organizations in the U.K. and Australia, among other assets, said the data, analytics and insights provider will become part of Dow Jones' professional information business, which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva.

News Corp said it expects to get an estimated tax benefit of $180 million as part of the deal.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

August 02, 2021 08:06 ET (12:06 GMT)

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