10:10, November 23 315 0

2017-11-23 10:10:08
Magic circle duo win roles in £675m Canada Pension Plan deal

Freshfields Bruckhaus Deringer and Linklaters have won the lead roles on the latest multi-million-pound investment by the Canada Pension Plan Investment Board (CPPIB).

CPPIB sought legal counsel from Freshfields partners David Higgins and Richard Thexton, who were supported by senior associate Chetan Sheth and associate Nicola Kinmond.

Partners Martin McElwee and George Swan worked on antitrust and insurance issues respectively, while counsel Mac Mackenzie provided regulatory advice.

The transaction sees the pension fund invest around £675m for a 30 per cent stake in financial services company BGL Group.

Peterborough-based BGL operates price comparison websites comparethemarket.com and French-based LesFurets.com.

Linklaters acted for BGL with a team led by partner Iain Fenn, supported by managing associate Chris Boycott.

BGL Group’s current owner BHL will continue to retain a majority shareholding in the business, with the investment expected to complete by the end of April.

BGL had been exploring option to float on the London Stock Exchange, but confirmed it would be putting off these plans after CPPIB’s investment.