Thomson Reuters may almost triple its money.The Thomson Reuters logo is seen on the company building in Times Square, New York October 29, 2013.
“Blackstone is excited to invest in Refinitiv to pursue a business plan focused on accelerating growth through innovation, in partnership with Refinitiv’s customers.” Thomson Reuters will receive approximately $17 billion in gross proceeds at closing (subject to purchase price adjustments) funded by $14 billion of debt and preferred equity to be incurred by the partnership and a $3 billion cash equity contribution by Blackstone. Thomson Reuters … ... according to data from Refinitiv. Yet an insurance policy designed to protect its downside works in its Canadian co-investor’s favour. Martin Brand, a Senior Managing Director at Blackstone, said: “We are pleased to close this landmark partnership transaction with Thomson Reuters.
On August 1, 2019, Thomson Reuters and private equity funds affiliated with Blackstone agreed to sell Refinitiv to LSEG in an all share transaction for a total enterprise value of approximately … A consortium led by Blackstone in 2018 acquired a 55% stake in Thomson Reuters’ financial data division, subsequently renaming the business Refinitiv. Discover Thomson Reuters. Of the remaining $7 billion, Thomson Reuters added that $4 billion will be redeemed as debt, $2 billion will be kept as cash on its balance sheet to fund acquisitions, and $1 billion will cover transaction-related costs.Now the deal has been completed, Thomson Reuters Financial & Risk has been renamed Refinitiv, with the firm’s flagship Eikon and Elektron desktop services expected to continue to be a pivotal part of the business.“This is a unique moment in our 160-year history as the Financial & Risk business of Thomson Reuters now steps forward as Refinitiv,” said David Craig, CEO of Refinitiv.“We firmly believe that efficient, transparent and trusted markets are good for all and that Refinitiv’s role is at the heart of this, providing access to clean and consistent data on a global scale… Refinitiv will continue to deliver the critical data, insights and open technology infrastructure that the market has come to expect.”The consortium of investors, led by Blackstone and including the Canadian Pension Plan Investment Board, also said that the new Refinitiv business will invest in a number of areas, including content coverage, artificial intelligence and analytics across the Eikon and Elektron platforms for buy-side trading, wealth and banking clients.“We are pleased to close this landmark partnership transaction with Thomson Reuters,” added Martin Brand, senior managing director, Blackstone. All rights reserved. Refinitiv connects the worldwide financial ecosystem across 40,000 institutions in 190 countries. © Reuters News & Media Ltd 2020. Under David’s leadership, Refinitiv was carved out from Thomson Reuters in late 2018 and acquired by a consortium of Blackstone… The business generated revenue of $6.3 billion and EBITDA of $1.6 billion in 2018.LSE shares were trading at 70.22 pounds at 0930 GMT on Aug. 1, 24% higher than their closing price on July 26, the day talks with Refinitiv were announced.We need you to verify your email address to continue. All Rights Reserved.
Breakingviews is not responsible for the content of external internet sites.London Stock Exchange Group confirmed on Aug. 1 that it had agreed to acquire financial data provider Refinitiv for $27 billion, including debt.LSE said it would issue shares to Refinitiv’s owners, a group that includes funds controlled by private equity giant Blackstone Group as well as Thomson Reuters, which owns Breakingviews. This website uses cookies to ensure you get the best experience on our website. In October 2018 Eikon was transferred to Refinitiv as a result of a larger deal between Blackstone and the Financial & Risk business of Thomson Reuters. After the deal those investors would own about 37% of LSE’s enlarged share capital, though they would limit their voting rights to less than 30%.A consortium led by Blackstone in 2018 acquired a 55% stake in Thomson Reuters’ financial data division, subsequently renaming the business Refinitiv. Thomson Reuters has closed the sale of a 55% interest in the company’s Financial & Risk company to private equity firm Blackstone, and has now rebranded the unit as Refinitiv.
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