Blackstone Inc., Thomson Reuters Corp. and other investors disposed of about GBP2 billion (US$2.4 billion or $3.25 billion) of stock in London Stock Exchange Group Plc after a lockup period expired.

The offering saw 28 million shares sold at GBP71.50 via York Holdings II Ltd., according to a statement. That’s a discount of about 4% to LSEG’s closing price on Tuesday.

The placement was upsized from 23 million shares with the sellers gathering enough investor demand for the offering within minutes of announcing the deal. Canada Pension Plan Investment Board and Singaporean sovereign wealth fund GIC — who are members of the Blackstone consortium — also sold.

The sale of the roughly 5% stake comes days after the stock exchange said it planned to buy back GBP750 million of shares from the consortium. LSE’s US$27 billion acquisition of data giant Refinitiv in 2021 made those investors its largest shareholders with a stake of about 35% as of March 2, 2022, according to LSEG’s 2021 annual report.

Under the lock-up arrangements, Thomson Reuters and Blackstone were able to sell as many as 66.1 million shares in total until Jan 29, 2024. Following the completion of this transaction, the remaining 38.1 million shares will be subject to a 90-day lockup, the terms show.

A LSEG spokesperson declined to comment. Morgan Stanley, Barclays Plc, Citigroup Inc. and Goldman Sachs Group Inc. are arranging the sale.

Blackstone, Thomson Reuters sell US$2.4 bil of LSEG Shares

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

Singapore’s headline and core inflation figures increase to 4.7% and 3.3% in October

UOB Kay Hian lowers MPACT’s TP, DPU on lower contributions from China and further depreciation on forex

Matter of time before Straits Times Index stages rally

About 62.5% of shares in VTAC have been redeemed prior to the despac

Coexisting with AI holograms

Revolutionising finance: Leveraging alternative data for inclusion and crime prevention

The cybersecurity parasite hiding in plain sight

Parkson Retail Asia shares up by 9% after receiving approval for extension of cure period

Spotify will cut 17% of jobs to improve profitability

Lender concerned that restructuring of Dasin Retail Trust may be delayed during requisition to internalise manager

Life on the road with  TUDOR pro cyclists Arvid de Kleijn, Sebastian Kolze Changizi and Maikel Zijlaard

Tennis pro Rafael Nadal’s fragrance line for Henry Jacques is now complete with the final addition of a solid perfume

A visit to the Jaeger-LeCoultre Manufacture offers insight into the artistry that goes into crafting a luxury timepiece

Charlie Munger and the fading art of the Second Banana

Watch out for three orphan companies

Why are we all freaking out about AI

Hong Kong billionaire Cheng family's succession under spotlight

Manulife US REIT units fall over 40% on debt restructuring plans, DBS downgrades to 'hold'

ByteDance fires hundreds, slashes games arm in major retreat

'Is it time to revisit iFast?' UBS nearly doubles its target price to $10 on Hong Kong growth

Blackstone, Thomson Reuters sell US$2.4 bil of LSEG Shares

Related News

Highlights

MSCI boss warns of climate risks

Related News

GIC-backed AESC said to target US$10 bil value in new round

GIC and Gentari sign definitive agreements with Greenko to develop one of world’s largest green ammonia platform

DPM Lawrence Wong appointed as GIC’s deputy chairman