Blackstone in ‘advanced talks’ to buy $17bn stake in Thomson Reuters unit

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.