M&A Deal Summary

London Stock Exchange Group Acquires Refinitiv

On August 1, 2019, London Stock Exchange Group acquired information services company Refinitiv from The Blackstone Group and CPP Investments for 27.0B USD

Acquisition Highlights
  • This is London Stock Exchange Group’s 1st transaction in the Information Services sector.
  • This is London Stock Exchange Group’s largest (disclosed) transaction.
  • This is London Stock Exchange Group’s 2nd transaction in the United States.
  • This is London Stock Exchange Group’s 1st transaction in New York.

M&A Deal Summary
Date 2019-08-01
Target Refinitiv
Sector Information Services
Buyer(s) London Stock Exchange Group
Sellers(s) The Blackstone Group
CPP Investments
Deal Type Add-on Acquisition
Deal Value 27.0B USD
Advisor(s) Evercore Group
Jefferies
Canson Capital Partners (Financial)

Target

Refinitiv

New York, New York, United States
website
Refinitiv is a large provider of financial markets data and infrastructure, serving over 40,000 institutions in over 150 countries. It provides data and insights, trading platforms, market data infrastructure and open technology platforms that support and connect the global financial markets community. Refinitiv was formerly known as Thomson Reuters Financial & Risk and is based in New York.

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Buyer(S) 1

Buyer

London Stock Exchange Group

London, United Kingdom

website

Category Company
Founded 1698
Sector Financial Services
Employees23,361
Revenue 7.7B GBP (2022)
DESCRIPTION

London Stock Exchange Group is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets. London Stock Exchange Group was founded in 1698 and is based in London, the United Kingdom.

DEAL STATS #
Overall 3 of 9
Sector (Information Services) 1 of 3
Type (Add-on Acquisition) 3 of 8
State (New York) 1 of 2
Country (United States) 2 of 6
Year (2019) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 Proquote

London, United Kingdom

Proquote Ltd. is a provider of trading, market data and connectivity solutions. Proquote's coverage includes information on futures, options, commodities, metals and OTC derivatives and features comprehensive fundamentals, charting analytical tools. Proquote was established in 1999 and is headquartered in London, England.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-18 Borsa Italiana

Milan, Italy

Borsa Italiana Spa is a stock exchange that manages and organizes the domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies. Borsa Italiana was formed in 1808 and is based in Milan, Italy.

Sell €4.3B

Seller(S) 2

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 133 of 170
Sector (Information Services) 2 of 2
Type (Add-on Acquisition) 51 of 66
State (New York) 9 of 12
Country (United States) 81 of 102
Year (2019) 5 of 8
Size (of disclosed) 1 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-16 BME

Schiphol, Netherlands

BME is a distributor of building materials. BME sells building materials to professional builders, contractors, craftsmen, (specialized) installers, and consumers. BME does this through a large network of branches and showrooms operating under trusted and well-known local brands. BME is active in three business areas: General Builders Merchants (GBM), Sanitary, Heating and Plumbing (SHAP), and Do-It-Yourself (DIY). BME was founded in 2019 and is based in Schiphol, Netherlands.

Buy €1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Vivint

Provo, Utah, United States

Vivint is a full-service security alarm company that generates sales door-to-door during the summer months and services the contracts throughout the year. Vivint was formed in 1999 and is based in Provo, Utah.

Sell -
SELLER

CPP Investments

Investor Investor Investor Investor Investor

website

Category Pension
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.

DEAL STATS #
Overall 6 of 12
Sector (Information Services) 1 of 2
Type (Add-on Acquisition) 5 of 7
State (New York) 1 of 1
Country (United States) 5 of 7
Year (2019) 3 of 4
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-03 Liberty Living

London, United Kingdom

Liberty Living offers student accommodation in 21 cities across the UK and Europe, we provide all-inclusive student housing & flats up and down the country.

Sell CA$1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-23 Interparking

Bruxelles, Belgium

Interparking is one of the major European car park operators. Interparking designs, builds, operates and maintains high-quality car parks across Europe. Interparking operates 949 car park sites with c.415,000 parking spaces in cities across 416 cities in 9 countries. These include Belgium, the Netherlands, Spain, France, Italy, Poland and Romania, and Interparking operates car parks in Germany and Austria under the brand Contipark. Interparking was founded in 1958 and is based in Bruxelles, Belgium.

Sell -
Mergr

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