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UK insurer Esure to buy remaining 50 percent stake in Gocompare.com
December 8, 2014 / 7:33 AM / 3 years ago

UK insurer Esure to buy remaining 50 percent stake in Gocompare.com

(Reuters) - Motor insurer Esure Group plc (ESUR.L) said it had conditionally agreed to buy the remaining 50 percent of Gocompare.com Holdings Ltd for 95 million pounds ($147.81 million), raising its holding in the price comparison website to 100 percent.

Esure said the deal would be funded by up to 125 million pounds of subordinated notes, and would enhance earnings on a cash basis in the first year.

Reporting by Richa Naidu in Bengaluru; Editing by Sunil Nair

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