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Approval by EU Commission to the Acquisition of IHS Markit by S&P Global

The European Commission has approved, the proposal of acquisition of IHS Markit by S&P Global.

The approval is related to the divestment of businesses in the areas of commodity price assessments and financial data.

In the investigation, the Commission was concerned that the acquisition would reduce competition, leading to potential price increases and a reduction of choice and innovation in the markets.

IHS Markit by S&P Global committed, the Commission evaluated that competition concerns would disappear in the scenario where the commitments were fulfilled.

The structural commitments eliminated competition concerns identified by the Commission in the markets for commodity price assessments, credit descriptors, leveraged credit indices, and leveraged credit market intelligence.

The commitments given are as follows:

  • In commodity price assessments, the divestment of IHS Markit's Oil Price Information Service (“OPIS”), including PetroChemWire, and Coal, Metals and Mining (“CMM”) businesses. The divestment of OPIS and CMM fully removes the problematic overlap in relation to price assessments for oil, coal, biofuels and petrochemicals.

 

  • In financial data and infrastructure, the divestment of a number of S&P Global businesses.

 

  • The divestment of S&P Global's CUSIP issuance and data licensing business (“CUSIP Global Services”). This divestment covers the issuance and data licensing of loan CUSIP identifiers, and thus removes fully the overlap in the area of loan identifiers.

 

  • The divestment of S&P Global's leveraged loan 100 index family and its leveraged loan market intelligence product Leveraged* Commentary and Data (LCD). This divestment (i) fully removes the overlap between S&P Global and IHS Markit in relation to leveraged loan indices, and (ii) ensures that the merged entity will not have any incentive to foreclose competitors in leveraged loan market intelligence.

 

You can find the full text of the press release here.

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr