Thomson Reuters is in advanced talks to offload a stake in its financial and risk (F&R) business to US private equity outfit Blackstone Group.
The proposed deal would see Thomson Reuters maintain a “significant interest” in the F&R unit, while continuing to have full ownership of the Reuters news arm and the legal, tax and accounting business.
However, it cautioned that discussions between the two firms may not lead to a deal being struck.
Thomson Reuters refused to reveal the finer details of the proposed deal, but sources told the Reuters reporters that Blackstone was looking to take a 55% slice of the F&R business, which as a whole is valued at around 20 billion US dollars (£14 billion) including debt.
In a statement, Thomson Reuters said: “Thomson Reuters (…) is in advanced discussions with Blackstone regarding a potential partnership in its F&R business.
“As part of any proposed partnership, Thomson Reuters would retain a significant interest in the F&R business and would retain full ownership of its legal, tax and accounting and Reuters news businesses.”
Thomson Reuters’ board is reportedly set to meet on Tuesday to discuss Blackstone’s offer.
The F&R business, which provides estimates, research, tools and venues, secured revenues of 6.1 billion US dollars (£4.3 billion) in 2016.
The group added: “Thomson Reuters does not expect to comment further on market speculation or disclose any further developments unless and until it determines that further disclosure is appropriate or required.”