Thomson Reuters To Sell Intellectual Property, Science Business For $3.6 Billion

As reported by Business Insider Monday, Thomson Reuters Corp TRI, the parent company of Reuters news, announced about its agreement to sell its intellectual property and science business ("which provides intellectual property and scientific information and associated tools and services to governments, universities and companies") to private equity firms ONEX Corporation and Baring Private Equity Asia for $3.55 billion in cash.

Related Link: Thomson Reuters Downgraded To Hold By TD Securities

$1 billion from the total sale price will be used for share buybacks, debt repayment and investments in its other businesses.

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