Blackstone in talks to buy Thomson Reuters unit
US PRIVATE equity firm Blackstone Group is in advanced talks to buy about 55% of the financial and risk business of Thomson Reuters for more than $17bn (R202bn), three sources said.
Thomson Reuters’ board, the sources said, was expected to meet yesterday to discuss Blackstone’s allcash 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.
Thomson Reuters said “it is in advanced discussions with Blackstone regarding a potential partnership in its F&R business.”
A spokesperson for Blackstone declined to comment.
Under the terms of the Blackstone offer, Thomson Reuters would retain 45% of the F&R business as part of a partnership with the US buyout firm, sources said.
Reuters was unable to determine who would lead the newly formed company.
Thomson Reuters would hold on to its international news service, Reuters, along with its Legal and Tax and Accounting divisions.
Reuters is expected to continue to supply news to F&R’s flagship desktop product, Eikon, as well as to other products, though the details of the arrangement could not be determined. – Reuters