esure take full control of Gocompare in £95 million deal

Insurance giant esure has announced that it has acquired the remaining 50% stake in price comparison wesbite Gocompare in a deal that will give them full control of the company.

esure has said the acquisition would help to create “investment opportunities in the short term to drive expansion and diversification over the medium to long term.”

The transaction values Gocompare, which generated a turnover of £110 million last year, at £190 million.

The acquisition, which is subject to regulatory approval, will be funded by a £125m subordinated debt issue.