esure to go private in £1.2bn deal

esure Group, the owner of Sheila’s Wheels, has accepted a £1.2bn offer to go private. Bain Capital has offered 280p per share for the insurer, a 37% premium on its closing price of 204p on Friday 11 August. Since its IPO in 2013, esure has grown to nearly 2.5m in-force policies, delivered over £800m of annual gross written premiums, and completed a £500m demerger of GoCompare in 2016.

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