Lewis’ Moneysupermarket.com sell off yields £25.2m

TV money saving guru Martin Lewis has sold nine million shares in Moneysupermarket.com, netting £25.2m.

Lewis, the founder of MoneySavingExpert sold his site to Chester-based Moneysupermarket.com for £87m in 2012 in a deal comprising £35m in cash and £25m in shares, representing 1.6% of the company’s issued share capital at £2.80.

The sale has taken his stake in the website down to less than 3%.

Meanwhile, a further 4.2m shares donated by Lewis to the Charities Aid Foundation have also been cashed in.

Shares in Moneysupermarket.com have risen 153% since Lewis acquired his quota in 2012 and have soared 59.4% in the last 12 months.

Lewis’ move folllows his announcement he would quit as editor-in-chief of MoneySavingExpert.com in September to become its chairman.

The personal finance journalist sold his website to Moneysupermarket.com for £87 million in 2012, with a deal consisting of £35 million in cash and £25 million in shares.

News of the sell off caused shares in Moneysupermarket.com to fall 4.90% 281.45p.