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Thomson Reuters Completes Sale Of Its Financial & Risk Unit To Blackstone

by financemagnates.com posted 8months ago 25 views
Now known as Refinitiv, the business unit plans on making strategic investments so it can rival Bloomberg. : Thomson Reuters Corp announced this Monday that it had completed the sale of a majority stake in its Financial and Risk (F&R) unit to a consortium led by Blackstone Group, a private equity firm, in partnership with Canada Pension Plan Investment Board  (CPPIB). With the completion of the sale, the Blackstone consortium now owns a 55 per cent stake in the business with Thomson Reuters retaining 45 per cent. The overall valuation is $20billion.

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