Consortium Led by Blackstone and Thomson Reuters Sells Millions in LSEG Shares

A group including heavyweight financial firms Blackstone and Thomson Reuters has executed a major share sale of their holdings in the esteemed London Stock Exchange Group, also known as LSEG. In a significant transaction, the consortium offloaded a combined total of 21.5 million shares.

Details of the Share Sale

The sale comprised two parts: firstly, through a placing, where 15.9 million ordinary shares were sold to institutional investors at 8,980 pence each. This sizable trade amounted to roughly 1.4 billion pounds, which translates to approximately 1.78 billion US dollars. Notably, these shares were sold at a slight discount of 0.7% below the closing price on the day prior to the announcement, marking a strategic move to finalize the sale swiftly.

The Directed Buyback

Furthering the transaction, the London Stock Exchange Group itself participated by purchasing 5.6 million shares off-market. They secured this portion of their own shares at an even more reduced rate of 8,917 pence per share. This buyback, brokered at 1.4% less than the previous day's closing price, culminated in a deal worth approximately 500 million pounds. Through this buyback, LSEG has strategically reduced the number of its shares in circulation, potentially bolstering the value of remaining shares.

Such financial maneuvers underscore the continued activity and interest in share markets, reflecting strategies by consortiums and companies to manage their investments and capital structure proactively. The completion of this transaction was confirmed by the banks advising the York Entities consortium.

Blackstone, ThomsonReuters, LSEG