Deals
Blackstone Bets on Further Refinitiv Gains After Doubling Value
- Buyout firm-led group doubles money on $27 billion LSE deal
- Blackstone, Thomson Reuters discussing 5-year lock-up with LSE
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Blackstone Group Inc. is poised to double the value of its investment in Refinitiv in just 10 months, but the buyout giant won’t be selling out anytime soon.
Under proposed terms of a sale of the data-and-trading platforms firm to the London Stock Exchange Group Plc for $27 billion, the owners would have to stay at least partially invested in the combined company for about five years, according to people familiar with the matter. Such so-called lockups keep existing investors committed to the business and sharing the deal risk while allowing them to benefit from potential growth.