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TODAY'S OTHER NEWS

ZPG snaps up another price comparison website business

ZPG, parent company of Zoopla, is to buy another comparison website business, in addition to running its existing Uswitch service.

Insurance group Admiral is selling to ZPG its website service, known as Penguin Portals and including Confused.com, in a deal reported to be worth some £508m.

ZPG will control the acquired businesses through its comparison site division, RVU. The Spanish insurance group Mapfre said it will also sell its stake in Rastreator.com and Preminen as part of the deal.

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A statement from Admiral says: “In light of the strong solvency and liquidity position of the group, Admiral expects to return a majority of the net proceeds to shareholders, though will retain a portion to support investment in new business development over the coming years.’”

The deal is expected to be finalised in the first half of 2021.

Zoopla Property Group was bought by US private equity group Silver Lake two years ago. 

  • icon

    Guess Zoopla visitors will soon be swamped with switching/comparison ads. Great.

  • Mark Walmsley

    I really want to sell something to zpg!

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