Bookrunners for the transaction announced on Wednesday that investors in the London Stock Exchange Group, including Blackstone and Thomson Reuters, are beginning to sell about 28.3 million shares for about 2.3 billion pounds ($2.9 billion).
This comes after a $3.4 billion share sale in May by the operator of the stock exchange as the investor group looks to unload its holding in LSEG.
According to bookrunners, the consortium, which also consists of the Canadian CPPIB and the Singaporean GIC, plans to sell 43.1 million LSEG shares overall through the offering, a directed repurchase, and the sale of call options.
Separately, LSEG announced its intention to repurchase limited-voting ordinary shares for about 750 million pounds in an off-the-market transaction.
The consortium has a voting stake in LSEG of 11.3% and an approximate economic interest of 18.7%. The group’s remaining voting shares and limited-voting ordinary shares will be subject to a 180-day lock-up period after the conclusion of the most recent transactions.
The parent company of Reuters News, Thomson Reuters, owns a small portion of LSEG. Refinitiv a provider of financial data, was sold by Thomson Reuters and Blackstone to the operator of the exchange in 2021.
