CPPIB buying 30 per cent interest in BGL Group for $1.1 billion
Posted November 23, 2017 7:57 am.
Last Updated November 23, 2017 8:20 am.
This article is more than 5 years old.
TORONTO – The Canada Pension Plan Investment Board has signed a $1.1-billion deal to acquire a 30 per cent stake in BGL Group, a digital distributor of insurance and financial services.
BGL Group’s brands include Comparethemarket.com, LesFurets.com and online life insurer BeagleStreet.com.
Under the deal, CPPIB will nominate a non-executive director to represent it on the BGL board.
BHL, the current owner of BGL Group, will retain a majority interest in the business.
The deal is subject to customary closing conditions including regulatory approvals.
It is expected to close by the end of April.