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Moody's to sell Moody's Analytics unit to PE firm Equistone, sees up to 20 cents hit to 2019 EPS

Ciara Linnane

Moody's Corp. said Tuesday it has agreed to sell its Moody's Analytics Knowledge Services business to Equistone Partners Europe Ltd, a private-equity firm. Moody's did not disclose terms, but said it expects the deal to shave up to 20 cents off 2019 per-share earnings. The deal is expected to close later this year. The unit offer research and analytical support to organizations across the globe, including banks, asset managers and consulting firms. Moody's will use the proceeds of the deal to repurchase about $300 million of its shares. Shares were not active premarket, but have gained 46.4% in 2019, while the S&P 500 has gained 20.2%.