S&P Global, IHS Markit sell off subsidiaries ahead of mega-merger
S&P Global and IHS Markit are selling off two subsidiaries worth a combined USD 2.2 bn ahead of their USD 44 bn merger, the Wall Street Journal. The transactions came as the two companies seek to divest themselves as businesses that could stop regulators from approving their supersize merger, which is slated for 1Q2022.
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THE CLOSING BELL-
The EGX30 rose 0.5% yesterday on turnover of EGP 1.2 bn (9.4% below the 90-day average). Foreign investors were net buyers. The index is up 9.9% YTD.
In the green: Kima (+5.1%), Abu Qir Fertilizers (+4.6%) and GB Auto (+3.1%).
In the red: Rameda (-4.3%), Heliopolis Housing and Development (-4.2%) and Orascom Development (-1.7%).