Britain's London Stock Exchange agrees $27 billion Refinitiv deal to form market data and analytics giant
), marks a rapid turnaround for the U.S. private equity group which is set to double the value of its investment, according to a person familiar with the deal.
It will also see it expand into over-the-counter trading by taking on Refinitiv’s FXALL and matching platforms, complementing its existing OTC clearing businesses. The Refinitiv deal comes at a time of uncertainty over Britain’s exit from the European Union still unclear and Blackstone and Thomson Reuters run the risk that the LSE share price could fall if Britain leaves the EU without a deal.
Blackstone’s consortium, which includes Canada Pension Plan Investment Board and Singaporean sovereign wealth fund GIC Special Investments Pte Ltd, holds a 55% stake in Refinitiv.
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