UPDATE 1-KKR to buy S&P Global's engineering solutions unit for $975 mln
(Adds shares)Jan 17 (Reuters) - Private equity giant KKR & Co will buy S&P Global's engineering solutions business for $975 million, the financial services provider said on Tuesday.The move comes…
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Jan 17 (Reuters) - Private equity giant KKR & Co will buy S&P Global's engineering solutions business for $975 million, the financial services provider said on Tuesday.
The move comes months after S&P said it would sell the unit, which serves more than 6,000 customers in the aerospace, defense, energy and architecture industries, among others.
S&P expects proceeds of $750 million after tax, which the company said will be used to fund share buybacks. (Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)