Hg is weighing a sale of its minority stake in Argus Media in a deal that could value the market data and information provider at more than GBP 3bn, according to four sources familiar with the matter.  

The buyout group is mulling an exit from its position in the London-headquartered global energy and commodity markets intelligence specialist following inbound interest from several large-cap private equity sponsors and pension funds, the sources said.  

There is no certainty that deliberations will lead to a sale, the sources said. Hg declined to comment. 

Argus Media, which helps clients assess global oil prices and provides industry news, has an approximate enterprise value of GBP 3bn–GBP 3.5bn, according to two of the sources.   

The company made an operating profit before depreciation, amortisation and exceptional items of GBP 107.1m in the year to June 2022, up from GBP 93.1m recorded in the same period the year before, according to company filings. Turnover during the same period was GBP 254.7m, up from GBP 228.7m in the previous year.

General Atlantic sold half of its 50% stake in Argus to Hg in 2019, valuing the company at more than GBP 2bn at the time. General Altantic bought its stake in 2016 after members of the Nasmyth family decided they wanted to reduce their stake. 

The company was founded in 1970 by Jan Nasmyth as a weekly newspaper called Europ-Oil Prices.  

Representatives for Argus Media and General Atlantic declined to comment.