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GIC taking stake in financial news and data firm Mergermarket

Reuters Published on Fri, Jun 30, 2017 / 11:00 PM GMT+8

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LONDON (June 30): Singapore sovereign wealth fund GIC has agreed to buy around 30% of financial news and data company Mergermarket Group from its private equity owner, sources familiar with the matter said.

GIC has valued the whole group, a former unit of The Financial Times Group, at about £1 billion ($1.79 billion), the sources said, adding the deal will probably be signed on Friday.

BC Partners bought the subscription-based news service from Pearson in a roughly £380 million deal in 2013.

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