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S&P, IHS to offload units ahead of merger to meet antitrust conditions -Breaking

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© Reuters. FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid

(Reuters) -S&P Global and IHS Markit said on Monday they would sell a couple of businesses to satisfy antitrust requirements attached to the $44 billion merger of the financial information providers.

S&P Global (NYSE:) will sell securities data solutions provider CUSIP Global Services (CGS) to financial data services firm FactSet for $1.93 billion in cash, while IHS will offload its Base Chemicals business to News Corp (NASDAQ:) for $295 million.

These divestments were made one month after U.S. Antitrust approved the planned merger of the two companies. The agreement stipulated that they must sell specific businesses and end a non-compete arrangement with a data provider for retail gasoline deals.

Base Chemicals offers price data and analysis for key industrial chemicals. CGS, however, provides identifications for financial instruments on all exchanges.

IHS and S&P Global said on Monday they expect their combined company to receive net sale proceeds of about $1.3 billion from these deals, which remain subject to further review and approval by antitrust regulators.

S&P Global also said it has pledged to sell its Leveraged Commentary and Data business, along with a related family of leveraged loan indices as a condition for regulatory approval.

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