(Alliance News) - A consortium of investors, including Blackstone Inc and Thomson Reuters, on Tuesday said they plan to sell shares worth just short of GBP1.6 billion in London Stock Exchange Group PLC.
Shares in LSEG closed marginally higher at 9,096.00 pence on Tuesday.
BCP York Holdings Delaware LP, a consortium including Blackstone Inc, the Canada Pension Plan Investment Board, GIC Special Investments Pte Ltd and Thomson Reuters said it was selling 17.3 million shares in LSEG, by way of a placing to institutional investors.
At Tuesday's closing price, the shares are worth GBP1.57 billion.
The sale represents around 3.3% of LSEG's share capital.
The York entities currently hold 26.7 million shares, around a 5.0% economic and voting interest in LSEG. This includes around 9.4 million shares subject to the call options sold indirectly by BCP York in connection with the call option transaction announced in March.
Following successful completion of the placing, the consortium will no longer hold an interest in LSEG, other than the BCP York option shares, and the relationship agreement will terminate.
The consortium inherited the stake when LSEG bought data services firm Refinitiv for USD27 billion in 2021.
LSEG will not receive any proceeds from the placing, according to a statement.
LSEG said it had agreed to waive the lock-up arrangements contained in the relationship agreement entered into on completion of the Refinitiv transaction.
By Jeremy Cutler, Alliance News reporter
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