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Insurer Admiral to sell Penguin Portals, Preminen comparison businesses

Dec 29 (Reuters) - British insurer Admiral Group said on Tuesday London-based price comparison company RVU will buy its Penguin Portals and Preminen businesses that include online portal Confused.com in a deal valued at 508 million pounds ($685.50 million).

The deal, which is expected to slightly lower Admiral’s future earnings, will result in proceeds of around 450 million pounds for the company. ($1 = 0.7411 pounds) (Reporting by Muvija M in Bengaluru; Editing by Vinay Dwivedi)

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