Business
Blackstone buys majority stake in Thomson Reuters business
The USD 20 billion deal is Blackstone’s biggest bet since the financial crisis. Blackstone will acquire a 55% stake in a newly hived off F&R business, a statement from both companies said. Thomson Reuters will retain a 45% holding and will receive approximately USD 17 billion, including about USD 3 billion in cash and USD 14 billion of debt and preferred equity issued by the new business, the companies said.
Thomson Reuters is one of the largest companies offering financial and data services for financial markets. Bloomberg’s eponymous terminals are the market leader in providing traders, bankers and investors with news, data and analytics.
The company said the deal will give Thomson Reuters, controlled by Canada’s Thomson family, “a formidable ally" as it seeks to reinvigorate a business facing challenges from a shrinking and budget-conscious customer base.
Thomson Reuters is one of the largest companies offering financial and data services for financial markets. Bloomberg’s eponymous terminals are the market leader in providing traders, bankers and investors with news, data and analytics.
The company said the deal will give Thomson Reuters, controlled by Canada’s Thomson family, “a formidable ally" as it seeks to reinvigorate a business facing challenges from a shrinking and budget-conscious customer base.