Thomson Reuters Confirms Advanced Talks With Blackstone On Financial Risk Unit

(RTTNews) - Thomson Reuters (TRI,TRI.TO) said that it is in advanced discussions with Blackstone regarding a potential partnership in its financial and risk business or F&R business.

Thomson Reuters noted that the discussions between the company and Blackstone may or may not lead to a definitive agreement.

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 & Accounting and Reuters News businesses, Thomson Reuters said.

The F&R business provides a broad and robust range of offerings to financial markets professionals, with $6.1 billion in revenues in 2016.

Earlier today, reports said the private equity firm is in talks to buy about 55 percent of financial and risk business for more than $17 billion.