Reuters set for windfall from Tibco offering

NEWS Reuters is set to raise as much as half a billion dollars from the disposal of a large part of its stake in integration-software company Tibco.

Reuters will make a public offering of 40 million Tibco shares, with the opportunity to increase that to 60 million. Given that Tibco has agreed to buy $115m of its own common stock from Reuters, it looks like the UK-based information provider could pocket about $500m.

Reuters currently owns 49 per cent of Palo Alto-based Tibco. The offering will be led by Goldman Sachs.

In recent months, Reuters has said it will concentrate on its core business.