London Stock Exchange Makes $1BN Deal With Motive Partners and Clearlake Capital

Sky News reported Monday that the London Stock Exchange Group reached a $1billion deal to sell a wealth platform to a group of investors.

LSEG will sell a group called BETA+ that the London Stock Exchange owner purchased as part of the takeover of Refinitiv to U.S.-based investors Motive Partners, Clearlake Capital Group, according to the report.

Sky News reported that the deal could be announced on Monday.

Reuters reached out to LSEG for comment but they did not respond immediately.

Refinitiv was carved from Thomson Reuters, which is the parent of Reuters News in 2018, by a consortium headed by Blackstone. In January 2021, LSEG purchased it in a $27 million deal.

Sky News has learned that the London Stock Exchange Group is selling a group called BETA+ assets to Motive Partners, Clearlake Capital Group, and Clearlake Capital Group. This is in connection with an ongoing bid for Chelsea Football Club.

According to a source, the deal could be announced as soon as Monday. It includes assets that were part of LSEG’s $27bn acquisition of Refinitiv. This transaction was completed last year.

Although the BETA+ businesses are not core to LSEG’s strategy they are expected to form a long-term strategic partnership.

Although it was not clear for what LSEG would use proceeds from the disposal, David Schwimmer, chief executive of the company, indicated that paying down debt and returning cash shareholders were high on his list of priorities.

LSEG has a market capitalization of over PS44bn. However, its shares have begun to recover in the last year.

Xavier Rolet, a long-serving chief who was one of the many overseas businessmen who resigned in recent weeks from boards of Russian-owned businesses, was replaced by Mr. Schwimmer.

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