Proactive Investors - London Stock Exchange Group (LON:LSEG)'s price held steady as Thomson Reuters (NYSE:TRI) sold the final chunk of shares it received when it sold data group Refinitiv to the stock exchange.
Bookrunner Morgan Stanley (NYSE:MS) sold £1.6 billion (US$2 billion) for the vendor consortium that includes and after which Thomson Reuters no longer has an interest.
The consortium disposed of approximately 17.3 million shares at a price of 9,150p a share via a placing to institutional investors and a separate offer to retail investors, a modest premium of 1.1% to yesterday’s closing price.
"To price at a premium for a deal of this scale is unprecedented, demonstrating demand for LSEG's stock and the liquidity of London's market," a spokesperson for for the exchange owner said.
"The entire sell-down of the Blackstone (NYSE:BX) Consortium's stake, since LSEG acquired Refinitiv, is also the largest ever stake in a European corporate sold by any non-sovereign entity," the spokesperson added.
LSEG bought Refinitiv in January 2021 for US$27 billion, since when it has become the core of the LSEG group.