Thomson Reuters has agreed to sell a 51 percent stake in its Global Print business to private equity firm KKR in a deal valued at approximately $500 million.

The transaction will create a new joint venture while allowing Thomson Reuters to retain editorial control and a 49 percent ownership stake.

The Global Print business provides legal, tax and regulatory publications to customers worldwide in both printed and digital formats.

Company executives said the partnership will allow the business to modernise its operations while continuing to serve professional clients globally.

Thomson Reuters said the agreement supports its strategy of focusing on technology-driven information services while partnering with experienced investors to strengthen traditional publishing operations. KKR is expected to invest in expanding the business and improving operational efficiency.

Industry analysts believe the transaction reflects the continued transformation of the publishing industry as companies shift toward digital products while maintaining specialised print services for legal and financial professionals.

The deal is expected to close after regulatory approvals are obtained. Both companies expressed confidence that the partnership will create long-term value for customers and shareholders.

Source: Reuters