Blackstone Group and Thomson Reuters have sold 33 million shares in the London Stock Exchange Group (LSEG) for a total of 2.7 billion pounds ($3.41 billion). The shares were sold at a price of 8,050 pence per share, a discount of 5% to LSEG’s last closing price. Following the sale, shares in LSEG fell as much as 5.1%.
The sale follows an earlier sale of more than $2 billion shares in March by Blackstone and Thomson Reuters, who became LSEG shareholders when they sold financial data firm Refinitiv to the bourse operator in 2021. Barclays, one of the investment banks running the sale, said that the remaining 5.1 million voting ordinary shares owned by Blackstone and Thomson Reuters are subject to a 90 day lock-up.
This sale marks the end of a successful partnership between Blackstone and Thomson Reuters, who have both profited from their involvement with the London Stock Exchange Group.