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Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines Admiral completes sale of Penguin Portals and Preminen comparison businesses to RVU


By BFN News | 01:09 PM | Friday 30 April, 2021
Admiral Group has announced that ZPG Comparison Services Holdings UK (RVU) has completed the purchase of Penguin Portals Group.
This comprises the online comparison portals Confused.com, Rastreator.com and LeLynx.fr and the group?s technology operation Admiral Technologies. It also includes its 50% share of Preminen Price Comparison Holdings Limited.
MAPFRE has also sold its 25% holding in Rastreator and 50% holding in Preminen as part of the transaction.
The total transaction value, including the amount attributable to MAPFRE, is £508 million and has been satisfied in cash on completion.
The proceeds to Admiral, net of minority interests and transaction costs, amounts to approximately £460 million. ....

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RVU Announces Closing Acquisition of Penguin Portals, Owners of Confused.com, Rastreator and LeLynx.fr


RVU Announces Closing Acquisition of Penguin Portals, Owners of Confused.com, Rastreator and LeLynx.fr
LONDON, April 30, 2021 /PRNewswire/ RVU, owner of home services switching service Uswitch and financial comparison site Money.co.uk, has completed the previously announced agreement to buy the business of Penguin Portals from Admiral Group plc.
Penguin Portals is a global network of market leading insurance-focused comparison platforms that include Confused.com in the UK as well as Rastreator in Spain and LeLynx.fr in France. The network of almost 700 employees also includes a start-up in Mexico and a development centre in India.
Tariq Syed, CEO of RVU, said: This is a win for our brands, our teams and most importantly our customers, bringing together best in class sector experience in home services and insurance. We now have the opportunity to empower millions more consumers to find the right deal for their needs, across the UK, Europe and beyond. With world cla ....

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