Blackstone, Thomson Reuters sell £1.9B of LSEG Shares

Blackstone Inc., Thomson Reuters Corp. and other investors have sold a 4% stake in the London Stock Exchange Group Plc as they continue to sell down their holdings in the market infrastructure and data provider, Report informs via Bloomberg.

The offering saw the consortium of investors dispose of 21.5 million shares by way of a placing and a directed buyback, according to a regulatory filing on Wednesday. Sellers also include the Canada Pension Plan Investment Board and GIC, who are members of the consortium of former investors in Refinitiv, which LSEG acquired.

Institutional investors bought about 15.9 million shares for £1.4 billion ($1.8 billion) at a discount of about 0.7% to Tuesday’s closing price of £90.42. LSEG, which has said it expects to execute up to £1 billion of share buybacks this year, also bought back about £500 million worth of shares from the consortium at a 1.4% discount, a separate filing showed.

The sellers had gathered enough investor demand for the offering within minutes of announcing the deal, according to terms seen by Bloomberg News.

Citigroup, Bank of America, Barclays, Goldman Sachs, JPMorgan and Morgan Stanley are arranging the sale.