Sonae increases investment in Cooper Gay
Cooper Gay has announced that MDS, SGPS, SA a subsidiary of the Portugese corporation Sonae SGPS, has increased its investment and shareholding in the company from 13.68% to 32.12%. However, the terms of the further investment were not disclosed.
Sonae originally acquired a minority shareholding in Cooper Gay in June 2007. Since then the company has announced the signing of a £31.6m senior debt financing facility with National Australia Bank and a 32% increase in earnings for the financial year ending 31 December 2007.
It revealed it has been looking into a number of further acquisition opportunities, which are at varying stages of development.
Toby Esser, chief executive officer of the Cooper Gay group said: "Our original transaction with Sonae in June 2007 created real cash value for our shareholders, and gave us the financial capacity to expand our business and implement our strategic plans. Since that date we have acquired a series of high quality teams and businesses that have brought genuine expertise into the group. I am delighted with the progress of the new teams and how they have integrated into our organisation and added to the services we can offer our clients.
"Since the initial investment, our relationship with Sonae has been extremely beneficial. There is no better measure of an investor's support than a further cash investment and Sonae's decision to increase their shareholding demonstrates their belief in Cooper Gay and the mutual benefit derived from our partnership."
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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
More on Insurer
Allianz U-turns on dropping LV brand with deal extension
Allianz has reversed its plans to shift away from the LV brand and has struck a new multi-year deal to continue using it for home, car and pet insurance.
Beazley shareholders give near unanimous approval paving way for Zurich takeover
Beazley shareholders have given the green light for the £8.1bn Zurich deal, with 99.9% of votes cast in favour clearing the way for the transaction to go ahead.
People Moves: 20 – 24 April 2026
Keep up to date with the latest personnel moves in insurance.
Biba 2026 Countdown: UGL’s Derek Coles
Derek Coles, CEO of UGL, suggests Biba is often a tale of two breakfasts, compares Brendan McManus to Ben Stokes and recommends a watering hole for some downtime away from the conference centre.
Ageas and Saga add home to partnership
Ageas UK and Saga have launched a home insurance proposition for the over-50s, labelling the move as a “milestone”.
Bspoke seeks more broker growth with quote-and-buy portal roll out
Bspoke Group has rolled out quote-and-buy portal Bspoke Online, stressing it has been developed specifically for brokers to simplify and speed up trading and policy management.
Hiscox bolsters HNW digital trading with new portal
Hiscox has revealed that a full‑cycle digital portal for its high net worth home insurance proposition is now live.
UK commercial rates dropping even faster
Rate softening in the UK commercial market has hit a new record since the run started just over two years ago, according to the latest figures from Marsh.