GIC joins Blackstone-led group that's buying US$11b stake in Thomson Reuters unit

Singapore

SINGAPORE sovereign wealth fund GIC has joined a Blackstone-led consortium that has taken a majority stake in the Financial and Risk (F&R) business of news group Thomson Reuters.

Under the partnership agreement, the Blackstone-led consortium will own 55 per cent of the equity in a new corporation created to hold the F&R business, in a stake valued at US$11 billion.