Thomson Reuters closes deal with Blackstone: Reuters
Thomson Reuters Corp has completed the sale of a majority stake in its Financial & Risk (F&R) unit to U.S. private equity firm Blackstone Group LP, Reuters reported. The news and information provider agreed in January to sell a 55-percent stake in the business, which provides data and news primarily to financial customers, in a deal which values the total F&R business, now called Refinitiv, at about US$20 billion. It gives Thomson Reuters, controlled by Canada’s Thomson family, an ally as it seeks to reinvigorate a business facing challenges from a shrinking and budget-conscious customer base. Canada Pension Plan Investment Board and GIC invested in the deal alongside Blackstone.
1 October 2018•2 mins read
