A consortium of investors, former shareholders in Refinitiv, on Tuesday announced plans to sell shares in London Stock Exchange Group PLC.

The consortium including Blackstone Inc, Thomson Reuters, the Canada Pension Plan Investment Board and GIC Special Investments Pte Ltd intend to sell 21.5 million shares in LSEG by way of a placing and directed buyback.

At LSEG’s closing share price on Tuesday of 9,014.81 pence each, the transaction would be worth £1.94 billion.

Around 15.9 million shares will be placed with institutional investors, while LSEG will buy back about £500 million worth of shares.

LSEG is not party to the placing and will not receive any proceeds from the placing.

The placing price will be determined by way of an accelerated bookbuilding process to institutional investors.

Barclays Bank PLC, Merrill Lynch International, Citigroup Global Markets Ltd, Goldman Sachs International, JP Morgan Securities PLC, Morgan Stanley & Co. International PLC are acting as joint global coordinators and joint bookrunners in connection with the placing and Blackstone Capital Markets is acting as a co-lead manager in connection with the placing.

LSEG said it had agreed to a limited variation of the lock-up arrangements contained in the agreement entered into on completion of the Refinitiv deal to enable the transaction to be implemented.

The group of investors sold 33 million shares, the equivalent of a stake of about 6% in LSEG, for 8,050p each in May 2023, worth £2.7 billion. This followed a sale worth around £2 billion in March.

The consortium currently holds a 9.9% economic interest and a 6.8% voting interest in LSEG.

In January 2021, LSEG completed the $27 billion acquisition of data and analytics company, Refinitiv.

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