Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising Canada Pension Plan Investment Board (‘CPPIB’) on its approximately £675m investment for a 30 per cent stake in BGL Group (‘BGL’). BHL, the current owner of BGL, will retain a majority shareholding in the business. The transaction is expected to be completed during the second quarter of 2018.

BGL is a leading digital distributor of insurance and household financial services and operates two of the most well-known price comparison websites in the UK and France, comparethemarket.com and LesFurets.com. BGL also operates an Insurance Distribution and Outsourcing (‘IDO’) division which offers car, home, life and van insurance products to UK customers through insurance providers Beagle Street, FiftyLife, Budget, Dial Direct, and its partnerships business, Junction.

The Freshfields team was led by London-based partners David Higgins and Richard Thexton, supported by senior associate Chetan Sheth and associate Nicola Kinmond. Partner Martin McElwee led on antitrust matters, partner George Swan led on insurance matters and counsel Mac Mackenzie on regulatory advice.