S&P Global Announces Intent to Separate Mobility Segment into Standalone Public Company
S&P Global Announces Intent to Separate Mobility Segment into Standalone Public Company |
| [29-April-2025] |
NEW YORK, April 29, 2025 /PRNewswire/ -- S&P Global (NYSE: SPGI) today announced its intent to separate S&P Global Mobility ("Mobility") from S&P Global to drive long-term value creation. The planned separation is expected to result in Mobility becoming a standalone public company.
"S&P Global is a leader providing essential intelligence with a proven history of strong financial performance and durable growth. Separating Mobility will allow us to continue to focus on our core businesses and pursue our growth strategy," said Martina L. Cheung, President and CEO of S&P Global. S&P Global: Enabling Critical Decisions in Financial and Commodity Markets S&P Global will continue as a leading provider of credit ratings, benchmarks, analytics and workflow solutions and will consist of its four highly synergistic core businesses – S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights and S&P Dow Jones Indices. Following the separation, S&P Global will benefit from simplified operations, increased focus on its enterprise strategy and a unified approach to powering public and private markets. With a strong leadership team bringing relevant industry experience, S&P Global will be optimally positioned to build on positive momentum in its product innovation and AI initiatives, as well as its proven track record of driving profitable growth among leading global brands. S&P Global expects to provide more information regarding its multi-year strategy at an Investor Day, scheduled for November 13, 2025. Mobility: Delivering Insights and Solutions Throughout the Vehicle Lifecycle Mobility is an automotive data and technology leader with three divisions – Used Vehicle Sales & Service (including CARFAX), Strategy & Product Planning and New Vehicle Sales & Marketing. Evolving dynamics, including growing consumer demand for vehicle information, the rise of electrification and software-defined vehicles, direct-to-customer retail models and the supply chain disruptions related to tariffs are driving an increased need for Mobility's data and decisioning tools. With trusted, market-leading brands such as CARFAX, automotiveMastermind, Polk Automotive Solutions and Market Scan, unique data sets and demonstrated resilience through business cycles, Mobility is well positioned to meet customer demand in the fast-moving environment. A separation will allow Mobility more flexibility to pursue near- and long-term growth opportunities, including in used car offerings and expanding both geographically and into adjacent markets. In fiscal year 2024, the Mobility segment generated $1.6 billion in revenue, a year-over-year increase of approximately 8%. Transaction Benefits and Details Through the transaction, S&P Global and Mobility are each expected to benefit from:
The planned separation follows a comprehensive review by the Company's Board of Directors and executive leadership team. The separation is expected to be effected through a spin-off of Mobility that is intended to qualify as a tax-free transaction for U.S. federal tax purposes to S&P Global shareholders. S&P Global expects to complete the separation within 12 to 18 months, subject to the satisfaction of customary legal and regulatory requirements and approvals, including final approval of the Company's Board of Directors and effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission. There can be no assurance that any separation transaction will ultimately occur or, if one does occur, of its terms or timing. First Quarter 2025 Results and Conference Call/Webcast Details The Company's senior management will discuss the separation transaction and review its first quarter year 2025 earnings results, which were separately announced today, on a conference call scheduled for today, April 29, at 8:30 a.m. ET. Additional information presented on the conference call, as well as the Company's earnings release and Supplemental slide content, may be found on the Company's Investor Relations Website at http://investor.spglobal.com/Quarterly-Earnings. The Webcast will be available live and in replay at http://investor.spglobal.com/Quarterly-Earnings. Advisors Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Evercore Group L.L.C. are serving as financial advisors and Davis Polk & Wardwell LLP and Baker McKenzie LLP are serving as legal advisors to S&P Global. About S&P Global S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through sustainability and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com. Forward-Looking Statements This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the Company's business strategies and methods of generating revenue; the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; the Company's effective tax rates; the Company's cost structure, dividend policy, cash flows or liquidity; and the anticipated separation of Mobility into a standalone public company. Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:
The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K, as supplemented by Item 1A, Risk Factors, in our most recently filed Quarterly Report on Form 10-Q. Contacts Investor Relations: Media:
SOURCE S&P Global | ||
Company Codes: NYSE:SPGI |
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