London Stock Exchange Group completes Refinitiv acquisition

On the 01/29/21 at 10:05AM


Tuba Raqshan

The London Stock Exchange Group (LSEG) has confirmed that its all-share acquisition of data services provider Refinitiv has now been completed.
Photo: EC

Completion of the acquisition of Refinitiv marks an important milestone in LSEG’s history, said David Schwimmer, Chief Executive Officer, LSEG. Following the acquisition, LSEG shares have now been issued to the Refinitiv sellers, under the transition terms. Shareholders have acquired (accounting for the voting ordinary shares which will be issued a month after completion of the transaction) an approximate 37% economic interest and 29% voting interest in LSEG. Additionally, Martin Brand, Blackstone’s senior managing director and co-head of US acquisitions, Erin Brown, Thomson Reuters’ head of finance for corporates segment and Douglas M. Steenland, Blackstone’s senior advisor have been appointed to the LSEG Board.

The stock exchange group also confirmed the admission of shares to trading on the London Stock Exchange’s main market from 29 January onwards, comprising a total of 463,841,689 voting ordinary shares (£6.79-£6.86), to the premium segment of the official list. The 67,355,526 limited-voting ordinary shares issued to the Refinitiv sellers will not be admitted to listing or trading on any market, while a further 24,615,845 voting ordinary shares will be issued to certain of the Refinitiv sellers one month after completion of the Transaction.

LSEG received the green signal for the European Commission early this month to go ahead with the acquisition, with conditions resulting in the former selling its Borsa Italiana unit to Euronext.  

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