General Atlantic to Buy Majority Stake in Argus Media

Reuters: U.S. investment firm General Atlantic is to buy a majority stake in oil price reporting agency Argus Media in a deal valuing the London-based outfit at nearly $1.45 billion and making dozens of employees potential millionaires. Argus, which competes with news and pricing agencies such as McGraw Hill’s Platts, OPIS and Thomson Reuters, appointed Bank of America Merrill Lynch to seek outside investors last year after some existing shareholders said they wanted to sell.