July 11 (Reuters) - Thomson Reuters Corp TRI.TO :
* Announces definitive agreement to sell its Intellectual
Property & Science business to Onex and Baring Asia for $3.55
billion
* Expects to use about $1 billion of net proceeds to buy
back shares and balance to pay down debt and reinvest in
business
* Guggenheim Securities, LLC and J.P. Morgan Securities LLC
are acting as financial advisors to Thomson Reuters for proposed
divestiture
* Sale is not subject to any financing condition
* Any share buybacks from net proceeds will be part of
previously announced $1.5 billion share buyback program
* Onex and Baring Asia have obtained debt and equity
commitments for transaction
* Allen & Overy LLP is acting as legal counsel for Thomson
Reuters
Source text for Eikon: ID:nCNW86gcma
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