BREAKING NEWS

BREAKING NEWS

Thomson Reuters unit to be renamed Refinitiv after Blackstone deal

Now Reading:

Thomson Reuters unit to be renamed Refinitiv after Blackstone deal

Thomson Reuters unit to be renamed Refinitiv after Blackstone deal
@ Copyright :
Andrew Kelly(Reuters)
Text size Aa Aa

LONDON (Reuters) - Thomson Reuters Corp's <TRI.TO> Financial and Risk unit, in which U.S. private equity firm Blackstone Group <BX.N> is buying a majority stake, will be renamed Refinitiv once the deal closes, the company said in a statement on Friday.

Blackstone is making its biggest bet since the financial crisis with the $20 billion (15.27 billion pounds) deal, which pits co-founder Stephen Schwarzman against fellow billionaire and former New York Mayor Michael Bloomberg in the financial information industry.

The Thomson Reuters unit provides information and related services to financial services professionals. David Craig, current head of Financial and Risk, will be CEO of Refinitiv, Thomson Reuters said in the statement.

The deal is expected to close in 2018, it said.

Thomson Reuters is the parent company of Reuters News.

(Reporting by Tommy Wilkes; Editing by Jason Neely and Nick Tattersall)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.