General Atlantic enters exclusivity for £950m Argus buyout

The firm is looking to acquire a majority stake in the energy price reporting and information business, which generates EBITDA of around £45m, according to the Financial Times.

The company recently appointed Bank of America Merrill Lynch to advise on a possible sale, with the development sparking intense interest among strategic and financial acquirers. A host of private equity firms were among a list of suitors expressing an early interest.

In April, Sky News reported that asset manager and mezzanine provider Intermediate Capital Group had entered the fray. The publication also named Charterhouse, the Canada Pension Plan, Hellman & Friedman and Permira as potential bidders.

Argus has been an active acquirer since it was founded in 1970, bolting on niche assets, often in less liquid commodity classes than its core oil and gas remit.

General Atlantic declined to comment on the reports.

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