Thomson Reuters has completed the sale of 55% stake in the F&R sector to Bla

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      TRI. TO (TRI. N), a news and information provider, said on Monday that it had completed a deal to sell a majority stake in its financial and market risk unit to private equity firm BX. N.
Thomson Reuters agreed in January to sell a 55% stake in the business to Blackstone, valued the F&R at about $20 billion. The business mainly provides data and news to financial clients.
Thomson Reuters will retain a 45% stake in F&R business. The F&R Department has been renamed Refinitiv.
The business will be headed by David Craig, a former head of F&R, who will be CEO of Refinitiv when the deal is completed.
After completion of the transaction, Thomson Reuters said it expects the legal business to account for 43% of total revenue.
Reuters will remain in Thomson Reuters. Under the terms of the deal, Refinitiv will pay Reuters a minimum fee of $325 million a year over the next 30 years to continue using the latter's news services, totaling nearly $10 billion.


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