Information services provider McGraw-Hill Companies, US, has announced that Platts has signed an agreement to acquire the Steel Business Briefing Group (SBB Group), a privately held UK company and provider of news, pricing and analytics to the global steel market. Platts is a division of McGraw-Hill and a global provider of energy, petrochemicals and metals information.
The SBB Group provides subscription-based, electronic products to the steel industry and its participants through two principal businesses - Steel Business Briefing (SBB) and The Steel Index (TSI). According to Larry Neal, president of Platts, the SBB business will be integrated into Platts and TSI will continue to operate separately.
Financial terms were not disclosed. The transaction is expected to close on July 1 subject to customary closing conditions.
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