Thomson Reuters completes the sale of F&R majority stake in American Blackstone

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Thomson Reuters announced the completion of a deal with the American Blackstone Group for the sale of a majority stake of the Financial&Risk unit, finversia.ru writes. The cost of the unit providing data and news mainly to clients in the financial sector was estimated at $20 billion. At the end of the deal, a 45 percent stake in F R, called Refinitiv, remained with Tomson Reuters. David Craig, who previously headed the F&R unit, became the CEO of Refinitiv. Thomson Reuters intends to return to shareholders 10 billion dollars out of the gross revenue of $17 billion received from the completion of the deal. The remaining amount will be partly directed to repay the debt in the amount of $4 billion, to cover the costs associated with the deal, as well as go to the acquisition.

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