Go Compare worth £275m
Go Compare, Go Compaaaare. OK, we’ll stop, but you’ve got that song in your head now haven’t you? Oops.
Later this year, motor insurance group esure will be listing its shares on the London Stock Exchange.
Esure have hired a team of investment bankers to oversee the sale of the company, and have stuck a minimum price tag of a whopping £275million on the company.
However, the minimum price tag is likely to fall well below the expected offers. Potential buyers of the site have already been contacted, and bids are expected from private equity firms as well as major technology companies.
Esure have released a prospectus ahead of the sale which explains the complex ownership agreement between Go Compare’s main investors.
It is expected that the site will be valued at around £1.1bn, which will net founder Peter Wood roughly £100m.