Shearman & Sterling is advising McGraw Hill Financial in connection with its definitive agreement to sell J.D. Power to XIO Group, a global alternative investments firm, for $1.1 billion in cash. The transaction is expected to close during the third quarter of 2016, subject to regulatory approvals and customary closing conditions.
In October 2015, McGraw Hill Financial had announced that it would commence a process to explore strategic alternatives for J.D. Power, a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions.
XIO Group is a global alternative investments firm operating in the United Kingdom, Germany, Switzerland, Israel, Hong Kong and mainland China. The firm identifies and invests in market-leading businesses in North America and Europe, helping these companies capitalize on untapped opportunities in fast-growing markets, particularly in Asia.
On April 27, 2016, subject to shareholder approval, McGraw Hill Financial will be renamed S&P Global.