IHS Markit (NASDAQ:INFO) agrees to buy financial services and data provider Ipreo from Blackstone (NYSE:BX) and Goldman Sachs (NYSE:GS) Merchant Banking Division for $1.855B. Meanwhile, it plans to sell MarkitSERV, its derivatives processing business.
The Ipreo purchase price represents an effective 2019 forward adjusted EBITDA multiple of 16x. IHS Markit sees the deal adding to 2019 Adjusted EPS.
IHS Markit has received committed debt financing for the deal. Expected leverage ratio, as defined in its credit facility, is estimated be about 3.6x at close, declining to 3.0x by Q3 2019.
