CPPIB buying 30 per cent interest in BGL Group for 11 billion

Posted in mzibuqwe on October 13th, 2019

first_imgTORONTO – 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.last_img

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