Refinitiv Is Exploring Sale of IFR Financial-Media Unit
(Bloomberg) -- Refinitiv, the financial data and risk company that changed hands this month in a $17 billion deal, is exploring the sale of its IFR media business, according to people with knowledge of the matter.
Refinitiv has already been in touch with some potential buyers for the business that’s also known as International Financing Review, the people said, declining to be identified as the discussions are confidential. Publisher Euromoney Institutional Investor Plc and ratings company Moody’s Corp. may be among the potential suitors, they said.
Representatives for Refinitiv, IFR, Euromoney and Moody’s declined to comment. The discussions are in early stages and may not lead to a sale, the people said.
Following the acquisition of Refinitiv by a group of investors led by Blackstone Group LP from Thomson Reuters Corp., its new owners have also been considering the sale of its FXall currency trading platform in a deal that could fetch more than $3 billion, a person familiar with the matter said last month. IFR produces a weekly magazine covering capital markets, as well as daily news bulletins and online market commentary and analysis for finance professionals.
Canada Pension Plan Investment Board and GIC Pte, Singapore’s sovereign wealth fund, joined Blackstone in buying a 55 percent stake in the division. Blackstone has said it intends to review Refinitiv’s operations to determine how it can best cut costs and boost profits following that transaction, which closed Oct. 1. A representative for Blackstone declined to comment.
Bloomberg LP competes with Refinitiv, IFR and Euromoney in providing financial news, data and analysis.
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