Breaking News

Tweet TWEET

Thomson Reuters to Acquire Norway's Point Carbon to Bolster Energy Sales

Thomson Reuters Corp. said it will acquire Point Carbon A/S, a Norwegian provider of energy and environmental information, to bolster offerings in this field.

The transaction will close “in the coming weeks,” New York-based Thomson Reuters said in a statement today. Terms of the deal, which gives the company modeling capabilities for the carbon, power and natural-gas markets, were not disclosed.

Companies that provide business information are looking to expand their offerings in the energy and environmental sectors to tap growing demand. Bloomberg LP, the parent of Bloomberg News, acquired energy analysis company New Energy Finance Ltd. in December.

The Point Carbon purchase “underscores Thomson Reuters’s commitment to the global energy markets and supports our growth plans,” Shaun Sibley, Thomson Reuters’s head of commodities and energy, said in the statement. “We will look to expand our business to new customers, geographies, and asset classes.”

Bloomberg competes with Thomson Reuters in selling financial and legal information and trading systems.

Schibsted ASA, Norway’s biggest media company, agreed to sell its Point Carbon shares as part of the deal and will book a profit of approximately 100 million kroner ($15.3 million), said Gisle Glueck Evensen, Schibsted’s head of mergers and acquisitions. Glueck Evensen declined to specify the total amount to be received and the media company’s precise holding.

Schibsted, which owned 20 percent of Point Carbon in 2005, now has “less than 20 percent,” according to Glueck Evensen.

Point Carbon raised $26 million in venture capital in September 2007 selling shares to Oak Investment Partners and JPMorgan Chase & Co., according to a website statement. That transaction, for an unspecified share of the company, was valued at a total of $43 million, it said.

Another shareholder of Point Carbon, which launched in 2000, is Mizuho Financial Group, Inc., according to a separate website statement.

To contact the reporters on this story: Matthew Campbell in Paris mcampbell39@bloomberg.net; Mathew Carr in London at m.carr@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.