Loans -
Pricegrabber set to be sold - 18/02/2008
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Experian has announced plans to review its price comparison site pricegrabber.com with a view to sell.
The Dublin based company, the world’s largest credit checker, said it was investigating if Pricegrabber “fit within the Experian portfolio”.
“Given that Experian does not break out what this business contributes to earnings, valuing it is a bit difficult. PriceGrabber has grown in customer numbers and profits under Experian, which paid 27 to 28 times earnings when they acquired it. They are not likely to get that when they sell it,” said Christian Koefoed-Nielsen, an analyst at Panmure Gordon.
Analysts have said that out of all Experian’s businesses Pricegrabber is the most independent business.
“It is a product that deals directly with the consumer and you could relatively easily separate it from Experian without damaging the business there,” said Mr Koefoed-Nielsen.
Experian started as a credit rating agency, determining the availability of personal and secured loans to borrowers, and has been hard hit by the credit crunch.
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