Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised RVU, the Comparison division of ZPG and owner of home services switching service Uswitch and financial comparison site Money.co.uk, on its acquisition of Penguin Portals from Admiral Group plc.
Penguin Portals is a global network of insurance-focused comparison platforms that include Confused.com in the UK as well as Rastreator.com and LeLynx.fr, market leaders in car insurance comparison in Spain and France respectively. The network of over 600 employees also includes a start-up in Mexico and a development centre in India.
Closing of the transaction is subject to customary regulatory approvals.
The Freshfields team is being led by global transactions partner Stephen Hewes and counsel Alon Gordon. Rod Carlton, Giles Pratt, Helen Buchanan, James Smethurst and Andrew Murphy led on antitrust, separation and intellectual property, tax, financial regulatory and employment aspects, respectively.
