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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Bakkavor Group Plc    BAKK   GB00BF8J3Z99

BAKKAVOR GROUP PLC (BAKK)
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Delayed Quote. Delayed  - 08/14 05:35:06 pm
190 GBp   --.--%
2017BAKKAVOR : Comparethemarket.com owner BGL scraps London listing plan..
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Bakkavor : Comparethemarket.com owner BGL scraps London listing plans in favour of stake sale

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11/23/2017 | 01:23pm CEST

(Reuters) - BGL Group [IPO-BGL.L], owner of Comparethemarket.com, said on Thursday it would sell a 30 percent stake for about 675 million pounds ($899 million) to Canada Pension Plan Investment Board (CPPIB) instead of listing its shares in London.

BHL, the owner of BGL Group, will retain a majority shareholding in the business and the deal is expected to be completed by the end of April, it said.

"During the course of our IPO preparations, our shareholder BHL received a number of approaches from different kinds of investors... A competitive process followed and our view was that CPPIB was the best partner for BGL," the chairman of BGL Group, Peter Winslow, said.

The announcement is another blow to the London Stock Exchange after earlier this month telecoms masts firm Arqiva <IPO-ARGL.L>, Britain's biggest debt collector Cabot Credit Management and business services firm TMF Group all pulled deals.

The announcement of the float plans had driven hopes of a revival of the market for initial public offerings (IPO) in Britain, a market that has been muted since Britons voted to leave the European Union in June 2016.

Ready meals firm Bakkavor Group, this month pulled but then resurrected its market debut plan.

Up until November, British IPOs have this year raised $5.2 billion, a 13 percent drop on the same period a year ago.

BGL Group distributes insurance and household financial services to 8.5 million customers and runs price comparison websites Comparethemarket.com in Britain and LesFurets.com in France.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Elaine Hardcastle)

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2017BAKKAVOR : Comparethemarket.com owner BGL scraps London listing plans in favour ..
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Financials (GBP)
Sales 2018 1 874 M
EBIT 2018 114 M
Net income 2018 87,0 M
Debt 2018 278 M
Yield 2018 2,93%
P/E ratio 2018 12,67
P/E ratio 2019 12,09
EV / Sales 2018 0,73x
EV / Sales 2019 0,68x
Capitalization 1 089 M
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 2,11  GBP
Spread / Average Target 11%
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Managers
NameTitle
Ágúst Gudmundsson Chief Executive Officer & Director
Simon Burke Non-Executive Chairman
Peter Gates Chief Financial Officer & Director
Lýdur Guðmundsson Non-Executive Director
Todd Krasnow Independent Non-Executive Director
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