US private equity firm Blackstone is in advanced talks to buy around 55 per cent stake in the Financial and Risk business of Thomson Reuters Corp, in a deal that would value the unit at about $20bn (£14.6bn) including debt, sources familiar with the matter said.
Thomson Reuters said in a statement that “it is in advanced discussions with Blackstone regarding a potential partnership in its F&R business.” The company gave no more details.
A spokeswoman for Blackstone declined to comment .
According to the sources, Thomson Reuters would receive more than $17bn for the deal, including about $4bn in cash from Blackstone and about $13bn financed by new debt taken on by the new F&R partnership, two of the sources said.
Thomson Reuters’ board is expected to meet today to discuss Blackstone’s offer for the F&R business, which contributes more than half of Thomson Reuters’ annual revenues.
Under the terms of the offer, Thomson Reuters would retain a 45 per cent stake in the F&R business as part of a partnership with the US buyout firm, according to the sources.