Thomson Reuters Announces Latest Sale of LSEG Shares

Rhea-AI Summary

Thomson Reuters (TSX/NYSE: TRI) announced the sale of 28 million shares of London Stock Exchange Group PLC (LSEG) at £71.50 per share, generating approximately $1.10 billion in pre-tax net proceeds. Of the shares sold, around 13.6 million were indirectly owned by Thomson Reuters. Following the transaction, the company will retain approximately 47.5 million shares of LSEG. The sale was conducted through institutional and retail placements, reflecting Thomson Reuters' ongoing strategy to manage its investment portfolio effectively.

Positive

• Thomson Reuters expects to receive approximately $1.10 billion from the sale.
• The company retains approximately 47.5 million shares of LSEG post-sale.

Negative

• None.

News Market Reaction – TRI

-1.00%

-1.00% Session move

In the trading session that priced this news, TRI declined 1.00%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

TORONTO, March 8, 2023 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI) announced today that it and certain investment funds affiliated with Blackstone collectively sold 28 million London Stock Exchange Group PLC (LSEG) shares that they co-own at a price of £71.50 per share. The sale was conducted through a placement to institutional investors and an offer to retail investors.

Of the shares sold, approximately 13.6 million were indirectly owned by Thomson Reuters. Upon the closing of the transaction, Thomson Reuters expects to receive pre-tax net proceeds of approximately $1.10 billion and will own approximately 47.5 million LSEG shares.

About Thomson Reuters

Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.

CONTACTS
MEDIA Andrew Green Senior Director, Corporate Affairs +1 332 219 1511 andrew.green@tr.com	INVESTORS Gary E. Bisbee, CFA Head of Investor Relations +1 646 540 3249 gary.bisbee@tr.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/thomson-reuters-announces-latest-sale-of-lseg-shares-301766367.html

SOURCE Thomson Reuters

FAQ

What did Thomson Reuters announce on March 8, 2023?

On March 8, 2023, Thomson Reuters announced the sale of 28 million LSEG shares.

How much did Thomson Reuters earn from the LSEG share sale?

Thomson Reuters expects to earn approximately $1.10 billion from the sale.

How many shares of LSEG does Thomson Reuters own after the sale?

Post-sale, Thomson Reuters will own approximately 47.5 million shares of LSEG.

What was the sale price for LSEG shares sold by Thomson Reuters?

The LSEG shares were sold at a price of £71.50 each.