CPPIB buying 30% interest in BGL Group for $1.1 billion

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.

Jason Contant

Jason has been an award-winning journalist with Canadian Underwriter for more than a decade, including the past three years as associate editor and, before that, as digital editor for seven years.