Thomson Reuters Part of $25B Deal

financial news

CBJ — Thomson Reuters has entered into a $25 billion partnership agreement with a group led by U.S.-based private equity firm Blackstone that will deliver financial information to professional market professionals around the world. The other two entities within the consortium are global investment firm GIC and the Canada Pension Plan Investment Board..

“Today’s announcement reflects the strength of the F&R business and its future potential,” said Jim Smith, president and chief executive officer of Thomson Reuters in a statement. “The transaction will provide immediate value to Thomson Reuters shareholders and our ownership interest in F&R will enable Thomson Reuters to participate in the future upside of the business.”

All three stakeholders expressed excitement over partnering with Thomson Reuters to gain access to its F&R business, which provides information for financial markets professionals, as well as regulatory and risk management solutions.

The business, which competes with Bloomberg and other smaller players to provide financial information, had $6.1 billion in revenue in 2016.

@CanBizJournal

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