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.
The Shearman & Sterling team included partners Kenneth Laverriere (New York-Compensation, Governance & ERISA), Larry Crouch (Menlo Park-Tax), Beau Buffier (New York-Antitrust), Jordan Altman (New York-Intellectual Property Transactions) and Gus Atiyah (Washington DC-Finance); counsel Robert LaRussa (Washington DC-Litigation); associates Richard Fischetti, Derrick Lott, Alan Sun, Christopher Tomlinson (all New York-Mergers & Acquisitions), Dillon Smith, Arman Naraghi-Pour (both New York-Corporate), Stephanie O’Connor (New York-Compensation, Governance & ERISA), Ryan Bray (Menlo Park-Tax), Tim Haney (New York-Antitrust), JB Betker (New York-Intellectual Property Transactions), Beverly Chang (Washington DC-Finance); and Head of Government Relations Lisa Raisner (Washington DC-Litigation).