The London Stock Exchange Group is acquiring Refinitiv to create a global financial markets infrastructure provider


London Stock Exchange signed a deal in August 2019 to acquire Refinitiv. (Credit: London Stock Exchange/Wikimedia Commons)

The London Stock Exchange Group (LSEG) said that its $27bn acquisition of Refinitiv has been given clearance by the Committee on Foreign Investment in the United States (CFIUS).

The US inter-agency committee after concluding its review of the deal ruled that there are no unresolved national security concerns pertaining to the proposed transaction.

Based in London, Refinitiv provides financial data and infrastructure to its clients in different parts of the world.

The company offers data, insight, and analytics that can be modified to suit workflows across its four key customer segments of investment and advisory, trading, wealth, and risk management.

Refinitiv is claimed to serve more than 40,000 customer institutions in 190 countries. Its client base features buy and sell-side firms, financial technology companies, governments, market infrastructure firms, and corporations.

The London Stock Exchange Group is acquiring the financial markets data provider in an all-stock deal from certain investment funds affiliated with Blackstone and also from Thomson Reuters. The stock exchange company wants to create a global financial markets infrastructure provider through the transaction, which was signed in late 2019.

The deal is expected to be closed during the second half of this year, said LSEG.

Closing of the transaction remains subject to clearances from the other concerned antitrust and regulatory authorities. The London Stock Exchange Group said that it continues to make progress for securing the clearances.

The stock exchange company stated: “We note and understand the European Commission’s statement of Friday 13 March 2020 in relation to its special measures related to COVID-19 (Coronavirus) and encouraging the delay of merger filings.

“We continue to engage constructively with the European Commission and other relevant regulators and stakeholders to ensure that all filings and approvals proceed as efficiently as possible.”

Refinitiv expanded its portfolio by acquiring Scivantage

Last month, Refinitiv acquired Scivantage, US financial technology company, which developed a digital wealth management offering called Wealthsqope and also an end-to-end tax information reporting solution, named Maxit E2E.