Shanghai: Thomson Reuters Corp. said it is in advanced discussions with Blackstone Group LP regarding a “potential partnership" in its financial and risk business, which accounted for more than half of its annual revenue in 2016.
The unit provides a range of offerings to financial markets professionals, with $6.1 billion in annual sales, according to a statement from the Toronto, Canada-based company. Reuters reported Tuesday that the private equity firm is in talks to buy about 55% of the business for more than $17 billion.
“As part of any proposed partnership, Thomson Reuters would retain a significant interest in the F&R business and would retain full ownership of its Legal, Tax & Accounting and Reuters News businesses," according to the statement.
The board of Thomson Reuters is expected to meet Tuesday to discuss the private equity firm’s all-cash offer for the unit, which supplies news, data and analytics to banks and investment houses around the world, Reuters reported early Tuesday.
Bloomberg LP, the parent company of Bloomberg News, competes with Thomson Reuters in providing news and information. Bloomberg