HG Capital offloads Argus Media stake for £52m

22nd Jan 2024 07:15

(Sharecast News) - Private equity group HgCapital on Monday said it had offloaded its stake in oil pricing data publisher Argus Media, allowing chief executive Adrian Binks to take a majority stake in the firm.

The deal values HgCapital's investment in Argus £52m. Existing minority shareholder General Atlantic - another private equity outfit - will also buy part of Hg's stake.

Founded in 1970 and headquartered in London, Argus serves more than 11,000 customers globally providing price assessments, news, analytics, consulting services, data science tools, and industry conferences to the global energy and commodities markets.

General Atlantic is a long-term partner to Argus, having initially bought its shares in 2016. Hg bought half of General Atlantic's stake four years ago.

Reporting by Frank Prenesti for Sharecast.com