BGL rules out IPO following £675m investment
Current owner BHL will retain the majority shareholding of the group which includes Compare the Market.
Compare the Market-owner BGL Group has dropped plans for an IPO following a £675m investment by the Canada Pension Plan Investment Board (CPPIB) which has bought a 30% stake in the business.
The firm said in a statement: “As a result of this investment, BGL Group will not be pursuing an IPO at this time.”
In January last year BGL, which specialises in car, home, bike and van insurance as well as price comparison and legal services, revealed it was considering a Stock Exchange listing.
The
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk