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The British-based buyout firm is homing in on another big windfall from the sale of its stake in the oil pricing data giant to existing shareholders, Sky News learns.
By Mark Kleinman, City editor @MarkKleinmanSky
A $1bn stake in one of the world’s largest oil pricing data businesses is close to changing hands in a deal that will cap a stellar end to the year for its owner.
Sky News has learnt that Hg Capital has agreed to offload its 24% shareholding in Argus Media in a transaction that is expected to value the company at $4.6bn.
The buyers of the stake are understood to be General Atlantic, an existing shareholder, and Adrian Binks, Argus Media’s chairman.
City sources said the deal could be signed and announced within weeks.
Argus Media, which competes with rivals such as Platts, provides detailed energy pricing data and analysis, and is used throughout the global energy sector.
The company was founded in the 1970s by Jan Nasmyth, a former British Army officer.
The sale of its Argus Media stake will come soon after Hg agreed the sale of Iris, a software company, to Leonard Green & Partners, in a £3.2bn deal.
It has also agreed a further recapitalisation of Visma, Europe’s largest privately owned software company, which is now valued at 19bn Euros.
JP Morgan is understood to have been advising on the Argus Media shareholder shake-up.
A spokeswoman for Hg declined to comment.
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