Financial analytics group S&P Global and financial services firm CME Group have completed the sale of post-trade solutions provider OSTTRA to investment firm KKR. The acquisition, which was first announced in April this year, had terms that equalled total enterprise value of US$3.1 billion.
The proceeds will be divided evenly between S&P Global and CME Group, pursuant to their 50/50 share. Guy Rowcliffe, OSTTRA’s co-CEO and chief commercial officer, as well as John Stewart, co-CEO and COO, will continue to lead the firm’s management team.
KKR plans to increase OSTTRA’s investments in technology and innovation across its post-trade solutions platform.
