London Stock Exchange Group plc (LSEG) today confirmed the completion of its all-share acquisition of Refinitiv.

As announced on Thursday, LSEG Shares have now been issued to the Refinitiv Sellers in satisfaction of the consideration due under the terms of the transaction. Refinitiv shareholders have acquired an approximate 37% economic interest and 29% voting interest in LSEG.

LSEG also confirms that admission of the entire enlarged voting ordinary share capital of LSEG (including the 112,254,597 voting ordinary shares issued to the Refinitiv Sellers), consisting of a total of 463,841,689 voting ordinary shares, to the premium segment of the Official List and to trading on London Stock Exchange’s Main Market took place this morning at 8:00am, 29 January 2021.

The 67,355,526 limited-voting ordinary shares issued to the Refinitiv Sellers will not be admitted to listing or trading on any market. LSEG notes that a further 24,615,845 voting ordinary shares will be issued to certain of the Refinitiv Sellers one month after completion of the Transaction.

David Schwimmer, Chief Executive Officer, LSEG, commented:

“Completion of the acquisition of Refinitiv marks an important milestone in LSEG’s history. I am delighted to welcome our new Board Directors, shareholders, executive management and all the new Refinitiv colleagues joining LSEG. This transformational transaction brings together two highly complementary global businesses with a shared commitment to an Open Access philosophy, working in partnership with customers.

LSEG is focused on delivering the benefits of the transaction helping customers to access data, trading tools, analytics and risk management across the financial markets and at scale around the globe. LSEG is well positioned for long-term sustainable growth in a rapidly evolving landscape as a leading global financial markets infrastructure and data provider.”

Martin Brand, Erin Brown and Douglas M. Steenland will be appointed to the LSEG Board.

Let’s also note that LSEG and the Refinitiv Sellers have agreed to vary the Relationship Agreement to permit the Refinitiv Sellers to sell a small number of LSEG Shares in order to enable certain persons with interests in Refinitiv, including UK resident members of Refinitiv management, to satisfy certain tax liabilities that they will incur in connection with completion of the transaction.