Thomson Reuters, Blackstone Consortium Sells GBP 2.66 Bln Of LSEG Stock

(RTTNews) - An investor consortium including Thomson Reuters (TRI, TRI.TO) and U.S. buyout firm Blackstone sold 2.66 billion pounds worth of stock in London Stock Exchange Group Plc (LSE.L).

Thomson Reuters said that the company and certain investment funds affiliated with Blackstone collectively sold 33 million LSEG that they co-own at a price of 80.50 pounds per share.

Of the shares sold, about 15.3 million were indirectly owned by Thomson Reuters.

In London, LSEG shares were trading at 8,404 pence up 0.48%.

Upon the closing of the transaction, Thomson Reuters expects to receive pre-tax net proceeds of about $1.52 billion and will own approximately 32 million LSEG shares.

In December 2022, Microsoft Corp. (MSFT) agreed to purchase about 4% equity stake in London Stock Exchange Group through the acquisition of shares from the Blackstone/Thomson Reuters Consortium.

As a result of LSEG granting the lock-up waiver, the number of LSEG shares that the Blackstone/Thomson Reuters consortium would be able to sell between 30 January 2023 and 29 January 2024 will be unchanged and the number of LSEG shares that the Blackstone/Thomson Reuters consortium would be able to sell between 30 January 2024 and 29 January 2025 would be reduced by half of the number of shares sold to Microsoft.