Blackstone enters data fray with Thomson Reuters deal

Thomson Reuters Corp. is hoping to jump-start growth in its core financial data business, ceding control of the unit to private equity giant Blackstone Group LP in a $17-billion (U.S.) deal to form a new joint venture.

Blackstone leads a consortium that includes the Canada Pension Plan Investment Board (CPPIB) – a long-time investor in Blackstone funds – and Singaporean sovereign wealth fund GIC.  The group will take a 55-per-cent stake in a new corporation that spins out Thomson Reuters’s financial and risk division as a separate business.  The unit derives much of its revenue selling the news and data to the global financial industry.

Read the full story here:  https://www.theglobeandmail.com/report-on-business/blackstone-enters-data-fray-with-thomson-reuters-deal/article37785369/



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