The London Stock Exchange Group Plc agreed on a deal to sell a minority stake in its Post Trade Solutions business and unveiled an increased share buyback as it continues to grapple with a slowdown in subscriptions growth.
The company will sell a 20% stake in the unit to 11 banks for £170 million ($227 million) in cash, a deal that values the business at £850 million, according to a statementBloomberg Terminal Thursday. The group also plans to double down on the £1 billion of shares it has bought back in the last three months, committing to repeat that target by February next year, Chief Executive Officer David Schwimmer said in a separate statementBloomberg Terminal.
