KKR to acquire a 51% stake in Thomson Reuters’ Global Print business, while Thomson Reuters retains editorial control and a 49% equity interest.
Toronto & New York: Thomson Reuters Corporation has signed a definitive agreement to enter into a joint venture with global investment firm KKR for its Global Print business. As part of the transaction, Thomson Reuters will sell a 51% stake in the business to capital accounts advised by KKR, while retaining a 49% equity interest in the joint venture.
Thomson Reuters will receive approximately US$500 million in gross proceeds at closing. The company will retain its intellectual property rights and full editorial control over its content portfolio. The new joint venture will hold an exclusive licence to distribute the content in print and through ProView, Global Print’s eBook platform.
The Thomson Reuters Global Print business provides legal and tax information in print and through ProView to customers worldwide. It also provides commercial printing services to a broad range of book publishers.
Brian Dillard, Partner at KKR and Co-Chief Investment Officer for Global Atlantic, said the Global Print business has built a highly regarded and trusted print platform, adding that KKR sees a compelling opportunity to support the business as a standalone operation while helping Thomson Reuters optimise its portfolio.
Steve Hasker, President and CEO of Thomson Reuters, said the transaction will provide the Global Print business with focused investment, operational capabilities and the independence to grow as a standalone business, while ensuring Thomson Reuters’ printed content continues to serve legal and tax professionals worldwide. He added that the transaction also sharpens the company’s focus on developing AI solutions for the legal, tax, audit and compliance sectors.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to be completed during the fourth quarter of 2026. Centerview Partners LLC is serving as financial advisor to Thomson Reuters.
The Thomson Reuters Global Print business serves legal and tax professionals, governments, law schools and corporations, while also providing commercial printing services for trade publishers, government organisations, associations, universities, faith-based organisations and children’s book publishers across the United States, Canada and the United Kingdom.
source :Thomson Reuters