London Stock Exchange Confirms Refinitiv Deal To Complete In January

(Alliance News) - London Stock Exchange Group PLC on Tuesday confirmed the completion date of its ...

Alliance News 19 January, 2021 | 5:11PM
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(Alliance News) - London Stock Exchange Group PLC on Tuesday confirmed the completion date of its USD27 billion acquisition for financial market data and infrastructure provider Refinitiv.

The deal will complete on January 29.

Shares in LSEG closed 0.8% lower in London on Tuesday at 9,136.00 pence each.

The deal brings an end to a saga that first started in July 2019.

LSEG, last Wednesday, said the European Commission conditionally approved the deal, after previously raising concerns.

As a result, the stock exchange and clearing operator agreed to sell Borsa Italiana parent company London Stock Exchange Group Holdings Italia SpA to Euronext for EUR4.33 billion, with the sale receiving approval from LSEG shareholders in November.

The sale was an attempt to placate regulators in Europe, allowing LSEG to complete its Refinitiv acquisition. It also has received merger control clearances from the relevant authorities in the US, Australia, Canada and the UAE for the acquisition.

LSEG confirmed on Tuesday the Refinitiv transaction is still subject to a small number of merger control and financial regulatory authority approvals, but believes these approvals will "occur shortly".

It is buying Refinitiv from Thompson Reuters Corp and a consortium of including investments funds affiliated to Blackstone Group Inc.

By Paul McGowan;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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