The owner of Uswitch is close to unveiling a takeover of in a deal that would unite two of Britain’s biggest online price comparison sites.

Sky News has learnt that a division of ZPG – which also owns the property portal Zoopla – could announce the purchase of from Admiral Group, the London-listed insurer, as soon as this week.

One source said it could be unveiled as early as Tuesday morning, when the London Stock Exchange resumes trading after a four-day break.

Precise details of the deal, including the price that Admiral had obtained for Penguin Portals – the division within which sits – were unclear on Monday.

ZPG owns online comparison website Uswitch

Analysts have speculated that the business could be worth in the region of £350m.

Insiders said that Red Ventures, which like ZPG is backed by the global technology investor Silver Lake, may also participate in the deal.

The Penguin Portals unit also includes Rastreator and, which operate in Spain and India respectively.

More from Business

The takeover will come just days before Admiral’s co-founder and former chief executive, David Stevens, steps down from the insurer’s board.

The company’s shares have soared by almost 30% during the last year, buoyed by lower claims payouts as a result of pandemic-inspired lockdowns.

Admiral’s decision to sell marks the latest in a string of deals in the sector.

Last month, the owner of GoCompare, another of Britain’s leading price comparison portals, agreed to sell itself to the specialist magazine and website publisher Future for nearly £600m.

ZPG itself was bought by Silver Lake in 2018, giving the US-based buyout firm control of a business which also includes and PrimeLocation.

Admiral declined to comment on Monday.

Houlihan Lokey, the investment bank, has been advising Admiral on the sale.


Products You May Like

Articles You May Like

Texas High School Suspends Black Student Again Over Locs
Sir Keir Starmer to promise ‘better bargain’ for UK in major economic speech
Jeremy Allen White Says Zac Efron Motivated Him To Get Shredded For ‘Iron Claw’
EU tariff U-turn to spare consumers extra bill for new electric cars
Things Are So Bad for DeSantis That His Top Propaganda Blog Is Shutting Down

Leave a Reply

Your email address will not be published. Required fields are marked *