Blackstone in talks to buy majority stake in key Thomson Reuters unit: Reuters
U.S. private equity firm Blackstone Group LP is in advanced talks to buy an approximate 55 percent stake in the Financial and Risk business of Thomson Reuters Corp, a deal that would value the unit at about US$20 billion including debt, sources told Reuters. Thomson Reuters’ board is expected to meet this week to discuss Blackstone’s offer for the F&R business, which supplies news, data and analytics to banks and investment houses around the world. The unit contributes more than half of Thomson Reuters’ annual revenues. Under the terms of the Blackstone offer, Thomson Reuters would retain a 45 percent stake in the F&R business as part of a partnership with the U.S. buyout firm, the sources said. Canada’s Thomson family controls more than 63 percent of Thomson Reuters shares through Woodbridge Co Ltd. The news and data provider has a market value of about US$31 billion.
