Euromoney, the parent company of Fastmarkets, announced an acquisition by a consortium owned by funds managed by Astorg and Epiris of Euromoney. Read the Euromoney press release here.
As a part of this transaction, it is intended that Fastmarkets will become a standalone entity, owned and controlled by Astorg, a global private equity firm with over €18 billion of assets under management.
Fastmarkets is the most trusted price reporting agency (PRA) in the agriculture, forest products, metals and mining, and new generation energy markets. The acquisition will accelerate the execution of Fastmarkets’ strategy of providing critical price data, news and market intelligence, forecasts, and events in the commodity markets it serves. This data becomes increasingly vital as markets are impacted by inflation and recession, energy crises, severe weather and geopolitical tensions – all while pursuing sustainability goals.
The current economic and market climate demands precise data, a clear understanding of market events and their impact, and forecasts that give clarity for the road ahead. The acquisition strengthens and accelerates Fastmarkets’ ability to lead the market and deliver this critical value to its customers.
Raju Daswani, CEO of Fastmarkets, added: “Fastmarkets has delivered rapid growth in recent years and secured its position as the most trusted cross-commodity price reporting agency (PRA) in the agriculture, forest products, metals and mining, and new generation energy markets. We will continue to focus on providing customers with benchmark prices, insights and analysis. We are excited by the opportunities for further growth, leveraging Astorg’s proven track record of successfully creating value.”