Thomson Reuters Announces Sale of Remaining Stake in London Stock Exchange Group

Rhea-AI Summary

Thomson Reuters (TSX/NYSE: TRI) announced on May 15, 2024, the sale of its remaining stake in London Stock Exchange Group (LSEG).

Along with Blackstone-affiliated investment funds, the company sold 17.3 million LSEG shares at £91.50 per share.

The shares were sold to institutional and retail investors.

Thomson Reuters owned 4.3 million of the shares sold and expects to earn approximately $0.5 billion in pre-tax net proceeds from this transaction.

Following the sale, Thomson Reuters will no longer hold any interest in LSEG.

Positive

• Sale of 17.3 million shares at £91.50 each.
• Expected pre-tax net proceeds of approximately $0.5 billion.
• Complete exit from LSEG stake, reducing potential market risks.

Negative

• Loss of future potential gains from LSEG stake.
• Dependency on other investments and revenue streams post-sale.

TORONTO, May 15, 2024 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI) announced today that it and certain investment funds affiliated with Blackstone collectively sold 17.3 million London Stock Exchange Group PLC (LSEG) shares that they co-own for a price of £91.50 per share. The sale was conducted through a placement to institutional investors and an offer to retail investors. Following the settlement of the transaction, Thomson Reuters will no longer hold any interest in LSEG.

Of the shares sold, approximately 4.3 million shares were indirectly owned by Thomson Reuters. Upon the closing of the transaction, Thomson Reuters expects to receive pre-tax net proceeds of approximately $0.5 billion.

Thomson Reuters

Thomson Reuters (TSX/NYSE: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world leading provider of trusted journalism and news. For more information, visit tr.com.

CONTACTS

MEDIA
Gehna Singh Kareckas
Senior Director, Corporate Affairs
+1 613 979 4272
gehna.singhkareckas@thomsonreuters.com

INVESTORS
Gary E. Bisbee, CFA
Head of Investor Relations
+1 646 540 3249
gary.bisbee@thomsonreuters.com

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SOURCE Thomson Reuters

FAQ

What is the significance of Thomson Reuters' sale of LSEG shares?

Thomson Reuters sold its remaining 17.3 million shares in LSEG, expecting to receive approximately $0.5 billion in pre-tax net proceeds.

How many LSEG shares did Thomson Reuters sell?

Thomson Reuters and Blackstone-affiliated funds sold 17.3 million LSEG shares.

What was the sale price per LSEG share in the Thomson Reuters transaction?

The LSEG shares were sold at a price of £91.50 per share.

What will Thomson Reuters receive from the sale of LSEG shares?

Thomson Reuters expects to receive approximately $0.5 billion in pre-tax net proceeds.

What is the impact of the sale on Thomson Reuters' stake in LSEG?

Following the sale, Thomson Reuters no longer holds any interest in LSEG.