Thomson Reuters Sells Last Remaining Stake in LSEG

By Adriano Marchese

Thomson Reuters has sold off its last remaining shares in the London Stock Exchange Group for about $500 million.

The Canadian information conglomerate said Wednesday that it and certain investment funds affiliated with Blackstone collectively sold 17.3 million London Stock Exchange Group at a price of 91.50 pounds ($115.21) apiece.

About 4.3 million of those shares were indirectly owned by Thomson Reuters.

Thomson Reuters and its consortium with Blackstone have been selling their shares of the group in parcels after the company inherited them from selling financial data firm Refinitiv to the group in 2021.

The move is part of Thomson Reuters' broader strategy to focus on its core businesses.

This share sale was conducted through a placement to institutional investors and an offer to retail investors.

Once the settlement clears, Thomson Reuters will no longer hold any interest in LSEG.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 15, 2024 08:37 ET (12:37 GMT)

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