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Thomson Reuters approves sale of financial data business to Blackstone

Published 01/30/2018, 05:29 PM
© Reuters. Thomson Reuters approves sale of financial data business to Blackstone
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  • Blackstone (NYSE:BX) is getting into financial data in a big way, with a confirmed deal to take control of the Financial & Risk business from Thomson Reuters (NYSE:TRI).
  • A consortium led by Blackstone including its private-equity funds along with the Canada Pension Paln Investment Board and GIC have entered a deal to take 55% of a new corporation made to hold the business.
  • Thomson Reuters will hold its 45% equity stake, as previously reported, and Blackstone will begin competing with Bloomberg and Dow Jones (NWS, NWSA).
  • The deal values the unit at about $20B; Blackstone was reported to be paying about $4B in cash along with $13B financed by new debt taken on by the partnership.
  • After hours: BX -0.6%; TRI +1.3%.
  • Previously: Reuters: Blackstone's buyout offer includes annual payments to news unit (Jan. 30 2018)
  • Previously: Report: Blackstone discussing $17B bid for control of Thomson Reuters unit (Jan. 29 2018)
  • Now read: Gates Industrial: New IPO Has Value, But Better Buying Opportunities Are Likely


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