Thomson Reuters and Blackstone announce strategic partnership for Thomson Reuters Financial & Risk (F&R) business

January 30, 2018

Torys is Canadian counsel to Thomson Reuters with a team that includes Cornell Wright, Richard Balfour, Glen Johnson, David Forrester and Crystal Chung (corporate), Jerald Wortsman and Andrew Silverman (tax), Dany Assaf (foreign investment and competition), Mitch Frazer and Bradley Tartick (employment), Tom Zverina (lending), Aaron Emes (research and opinions) and James C. Tory (litigation).

On January 30, 2018, Thomson Reuters announced that it had signed a definitive agreement to enter into a strategic partnership with Blackstone. As part of the transaction, Thomson Reuters will sell a 55% majority stake in its F&R business to private equity funds managed by Blackstone. The transaction values the F&R business at approximately US$20 billion. Thomson Reuters will receive approximately US$17 billion in gross proceeds at closing (subject to purchase price adjustments) funded by US$14 billion of debt and preferred equity to be incurred by the partnership and a US$3 billion cash equity contribution by Blackstone. Thomson Reuters will retain a 45% interest in the F&R business. Thomson Reuters will also maintain full ownership of its Legal, Tax & Accounting and Reuters News businesses. Canada Pension Plan Investment Board (CPPIB) and GIC will invest alongside Blackstone for the transaction.

The transaction is expected to close in the second half of 2018. 

Thomson Reuters is the world’s leading source of news and information for professional markets. Thomson Reuters’ customers rely on it to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI).