CPPIB acquires 30 pct stake in BGL Group for $1.14 bln: Reuters
BGL Group, owner of Comparethemarket.com, said this week it would sell a 30 percent stake for about 675 million pounds ($1.14 billion) to Canada Pension Plan Investment Board instead of listing its shares in London, Reuters reported. BHL, the owner of BGL Group, will retain a majority shareholding in the business and the deal is expected to be completed by the end of April 2018, it said. Peterborough, U.K.-based BGL Group distributes insurance and household financial services to 8.5 million customers and runs price comparison websites Comparethemarket.com in Britain and LesFurets.com in France. CPPIB will nominate a non-executive director to the company's board with the deal's closing.
23 November 2017•2 mins read
