Platts to acquire global sugar and biofuels information provider
11 Oct 2012
The McGraw-Hill Companies today said that its energy, metals and petrochemicals information division Platts has signed a definitive agreement to acquire Kingsman SA, a privately-held, Switzerland-based provider of price information and analytics for the global sugar and biofuels markets, for an undisclosed sum
The deal is expected to close on 1 November, subject to customary closing conditions.
''McGraw-Hill is pleased to add Kingsman to our wonderful stable of world-class businesses,'' said Harold McGraw III, chairman, president and chief executive officer for The McGraw-Hill Companies. ''As we move to separate our education company from our financial and commodities intelligence businesses at the end of the year, this acquisition strengthens our leading position as providers of essential intelligence in the capital and commodity markets.''
''Kingsman is widely recognised as the leading global brand for sugar market data and analytics,'' said Larry Neal, president of Platts. ''Our acquisition of Kingsman deepens Platts' capabilities in biofuels and gives us a springboard for growth in the global agricultural markets. It also reinforces our commitment to becoming a leader in market analytics as well as news and price information.''
Neal noted that agriculture is a large, complex global commodity market similar to other markets that Platts serves. ''It requires the level of pricing expertise that Platts can uniquely offer,'' he said, ''and, with its broad range of sub-sectors, it presents multiple opportunities for Platts to develop benchmarks that support market evolution and enhance price transparency.''
Founded in 1990 and based in Lausanne, Kingsman employs analysts, researchers and report writers in key markets including London, Montreal, New Delhi and Sao Paulo. It serves a global clientele of producers, traders, refiners, financial institutions and end-users, offering a variety of subscription publications covering sugar, ethanol and biodiesel.
