Home Tech/AIIndustry & Trade Thomson Reuters to sell IP & science business for $3.55 billion

Thomson Reuters to sell IP & science business for $3.55 billion

by Noha Gad

Thomson Reuters Corp (TRI.TO) said it agreed to sell its intellectual property & science business to private equity funds Onex Corp (OCX.TO) and Baring Private Equity Asia for $3.55 billion.

The company said on Monday it expects to use about $1 billion of the net proceeds to buy back shares and the rest to pay down debt.

Source: Reuters

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