Thomson Reuters
Closes Sale of Intellectual Property & Science Business for
$3.55 Billion
NEW YORK, Oct. 3, 2016 -- Thomson Reuters (TSX/NYSE: TRI)
today announced that it has closed the sale of its Intellectual
Property & Science (IP&S) business to Onex Corporation and
Baring Private Equity Asia for $3.55
billion in cash. Thomson Reuters plans to use about
$1 billion of the net proceeds to buy
back shares and the balance to pay down debt and reinvest in the
business. Any share buybacks will be part of the company's
previously announced $1.5 billion
share buyback program.
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Following today's closing, Thomson Reuters is organized in three
business units supported by a corporate center – Financial &
Risk, Legal and Tax & Accounting. The company also operates
Reuters, a leading provider of real-time, high impact, multimedia
news and information services.
Thomson Reuters
Thomson Reuters is the world's leading source of news and
information for professional markets. Our customers rely on us to
deliver the intelligence, technology and expertise they need to
find trusted answers. The business has operated in more than 100
countries for more than 100 years. Thomson Reuters shares are
listed on the Toronto and New York
Stock Exchanges (symbol: TRI). For more information, visit
http://www.thomsonreuters.com/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking,
including the company's current expectations regarding its uses of
proceeds from the sale. These forward-looking statements are based
on certain assumptions and reflect our company's current
expectations. As a result, forward-looking statements are subject
to a number of risks and uncertainties that could cause actual
results or events to differ materially from current expectations,
including factors discussed in materials that Thomson Reuters from
time to time files with, or furnishes to, the Canadian securities
regulatory authorities and the U.S. Securities and Exchange
Commission. There is no assurance that the events described in any
forward-looking statement will materialize. Except as may be
required by applicable law, Thomson Reuters disclaims any
obligation to update or revise any forward-looking
statements.
CONTACTS
MEDIA
David Crundwell
Senior Vice President, Corporate Affairs
+44 20 7542 8763
david.crundwell@thomsonreuters.com |
INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations
+1 646 223 5288
frank.golden@thomsonreuters.com |
SOURCE Thomson Reuters