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
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