(Jan 31): A group led by Blackstone Group agreed to buy a majority stake in Thomson Reuters’s financial and risk unit in a deal that values the business at US$20 billion ($26.1 billion), sealing plans for the firm’s biggest buyout in a decade.

Canada Pension Plan Investment Board and Singapore’s sovereign wealth fund, GIC, will co-invest alongside Blackstone to acquire 55% of the business, according to a statement Tuesday. Thomson Reuters will retain a 45% equity stake. The unit, which provides data, analytics and trading to Wall Street and financial professionals around the world, doesn’t include the news-gathering operation.

“We are delighted to partner with Thomson Reuters in continuing to grow the financial and risk business,” Joe Baratta, Blackstone’s global head of private equity, said in the statement. “This is a landmark transaction for Blackstone and our investment partners.”

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