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Thomson Reuters To Divest Healthcare Unit For $1.25 Bln Cash - Quick Facts

4/23/2012 9:09 AM ET

Thomson Reuters (TRI,TRI.TO: Quote, RUT.L) has reached a definitive deal to sell its Healthcare business to an affiliate of Veritas Capital for $1.25 billion cash. Veritas has obtained debt financing commitments for the transaction.

The sale is subject to regulatory approval and customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the next few months. Thomson Reuters said that upon the close of the divestiture, it would focus more on its core global businesses.

Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters for the proposed divestiture. Covington & Burling LLP is acting as legal counsel for Thomson Reuters.

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by RTT Staff Writer

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