Slaughter and May is advising esure on the acquisition of the remaining 50% of Gocompare.com Holdings Limited (Gocompare) for £95 million, increasing its holding in Gocompare to 100%.

Slaughter and May is also advising esure on its related issuance of up to £125 million of subordinated notes, which are expected to meet the requirements of Solvency II.

esure is a UK-focused personal lines insurer founded in 2000 by Peter Wood, the foremost general insurance entrepreneur in the UK and the Group's Chairman. Slaughter and May acted for esure on its IPO in 2013. esure is a constituent of the FTSE 250 index.

Gocompare is one of the UK’s top financial services brands and a leading price comparison website offering consumers a convenient way to compare and buy both financial and non-financial products including insurance, money services, travel and utilities and had over two million customers in 2013.

The acquisition is anticipated to complete in the first quarter of 2015, subject to customary conditions and regulatory approvals.

CONTACTS

Corporate and Commercial: John Papanichola (partner), Natalie Cook (associate), Andrew Smith (associate); Financing: Matthew Tobin (partner), Andrew Chaplin (associate), Hiba Siddique (associate); Competition: Philippe Chappatte, Will Turtle (associate), Neha Dhaun (associate); Tax: Gareth Miles (partner), Charles Osborne (associate); Financial Regulation: Jan Putnis (partner), Charlotte Collins (associate); Employment and incentives: Jonathan Fenn (partner), Chris Boyle (associate); IP/IT: Cathy Connolly (partner), Duncan Blaikie (associate)