(c) Reuters. FILE PHOTO – Signage for London Stock Exchange Group seen outside offices in Canary Wharf, London, Britain on August 3, 2023. REUTERS/Toby Melville
(Reuters) -Investors in the London Stock Exchange Group (LON:), including Blackstone (NYSE:) and Thomson Reuters (NYSE:), are launching a sale of roughly 28.3 million shares worth about 2.3 billion pounds ($2.9 billion), bookrunners for the deal said on Wednesday.
This follows a sale in May of about $3.4 billion shares in the bourse operator as the investor group seeks to offload its stake in LSEG.
The consortium, which includes Canada’s CPPIB and Singapore’s GIC, aims to sell a total of about 43.1 million shares over time in LSEG through the offering, a directed buyback and a sale of call options, bookrunners said. Bookrunners said the consortium, which includes Canada’s CPPIB and Singapore’s GIC, aims to sell a total of about 43.1 million shares over time in LSEG through the offering. This will be done via a directed buyback as well as reselling call options. Thomson Reuters, Blackstone and GIC didn’t immediately respond to comments. The consortium has an economic stake of 18.7% and a voting interest of 11.3% in LSEG. Following the completion of the latest deals, the group’s remaining voting shares and limited-voting ordinary shares will be under a 180-day lock-up period.
Thomson Reuters, parent of Reuters News, holds a minority stake in LSEG. Thomson Reuters, Blackstone and the bourse operator had sold Refinitiv (a financial data company) to them in 2021.
.($1 = 0.8002 pound sterling)