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Thomson Reuters Financial & Risk Business Becomes Refinitiv

Thomson Reuters announced that it has closed the sale of an interest in the company's Financial & Risk business to private equity funds managed by Blackstone. An affiliate of Canada Pension Plan Investment Board and an affiliate of GIC invested alongside Blackstone. The Financial & Risk business is now known as Refinitiv. The Blackstone-led consortium now owns 55 percent of the equity in a new corporation created to hold the F&R business (Thomson Reuters retains a 45 percent equity stake, at an overall valuation of US$20 billion). Through this investment, the new Refinitiv business expects to invest in a number of key areas to serve its customer base, which currently includes 40,000 institutions in over 190 countries. This includes further investing in content coverage, AI and analytics across its open data platforms Elektron and Eikon for buy-side, trading, wealth and banking customers. It also plans to invest in enhanced capabilities for its leading platforms for trading, as well as in indices, risk management, and fighting financial crime.

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