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Report: General Atlantic in talks to sell 50% stake in Argus

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Report: General Atlantic in talks to sell 50% stake in Argus

U.S.-based growth equity firm General Atlantic Service Co. LP is lining up an investor consortium to buy half of its stake in Argus Media Ltd. in a deal that could value the oil and other commodity pricing news provider at about £2 billion, Sky News reported, citing banking sources.

The potential deal would reduce General Atlantic's stake in Argus from about 50% to 25%, according to the report. General Atlantic acquired a stake in Argus in 2016.

The new investors may include pension funds or sovereign wealth funds, the sources said, adding that the selection process is ongoing.

Argus Chairman and CEO Adrian Binks would reportedly retain his stake of just under half the company after the potential deal. Both Argus and General Atlantic declined to comment on the matter, the report added.