Blackstone wins EU approval to buy Thomson Reuters unit
Published Jul 23, 2018 08:09AM ET
Blackstone wins EU approval to buy Thomson Reuters unit
BRUSSELS (Reuters) - U.S. private equity firm Blackstone Group (N:BX) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters' (TO:TRI) Financial and Risk unit, the European Commission said on Monday.
Blackstone is making its biggest bet since the financial crisis with the $20 billion deal which pits co-founder Stephen Schwarzman against fellow billionaire and former New York Mayor Michael Bloomberg.
Much like Thomson Reuters, Blackstone's portfolio company Ipreo, which it agreed to sell to IHS Markit (O:INFO) in May,provides information and related services to financial market professionals, the Commission said.
The EU enforcer said it did not see any competition concerns despite the overlaps between the two companies.
"The proposed transaction would raise no competition concerns given the limited market shares of the companies, the fact that a number of competitors will remain in the market post-transaction, and the fact that Blackstone accounts for only a minimal share of the demand for Thomson Reuters F&R's products," it said.
Thomson Reuters declined to comment on the Commission's decision.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.