https://www.reuters.com/article/us-refinitiv-divestiture-fxall-exclusive-idUSKCN1RM2IC this is "enabling Refinitiv to trim its debt pile following its acquisition last year by a consortium led by Blackstone Group LP in a $20-billion leveraged buyout." They should just make "trim debt pile" all our goals for the year and be done with all the performance nonsense. Which product will be next up for sale?
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I would think it would be Auf Wiedersehen und viel Glück!
The diatribe about patient capital and aligning complementary portfolios was slightly misguided.. a bit like the data business was and the company they already had in the portfolio would complement TR.... Sold after the TR close! Realise, it is a leveraged buy out and that it how they make money team!
Not a bad return on investment.
FXALL was purchased in 2012 for $650 million and now being sold on (if press is correct) for $3.5 billion :-)
Sue, trade web IPOed the first week of April. Do the people that post here even work at Refinitiv?
I reckon it will be a good thing being sold. FX teams (and it is not clear who is involved), will be with a company that wants to invest and promote its staff. The FX area is still influenced by many of those that transitioned into TR from Fxall following the acquisition. It's needs a good clear out.
Trade web next