Deal Announcement

On 29 January 2021, Blackstone (and consortium partners Canada Pension Plan Investment Board and GIC) and Thomson Reuters finalised the sale of Refinitiv to The London Stock Exchange Group (LSEG).  PriestleySoundy advised the international (including UK and US Managers) Senior Management Team of Refinitiv.

The £22bn (US $27bn) transaction, approved by the European Union regulators earlier this month, is another landmark deal to meet the surging demand for data and analytics in the financial services world.

As a result of the all-share acquisition, the Refinitiv shareholders have acquired an approximate 37 per cent. economic interest and 29 per cent. voting interest in LSEG.

Mark Soundy and Sarah Priestley are delighted to have advised the Senior Management Team of Refinitiv, over the last three years, in connection not only with this transaction but also with the original investment by the Blackstone consortium.

This is a prime example of PriestleySoundy’s ability to partner with Senior Managers, and to guide and support them, in the context of one of the most challenging, complex, innovative and truly international management incentive plans that the Private Equity world has ever seen.

Blackstone was advised by Simpson Thacher, Macfarlanes and Maples & Calder.  Thomson Reuters was advised by Wachtell Lipton, Allen & Overy and Torys.  LSEG was advised by Freshfields.

29 January 2021

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