In 2004 Saga was bought for £1.35bn by Charterhouse Capital Partners, a private equity group, in a deal that netted the founding de Haan family a nice little nest-egg of £1.2bn.
Since then not much has happened. The radio stations were recently sold and there has been a wholesale change of management. Otherwise it looks like business as usual. Same ‘old’ Saga.
In the last few days there has been a rumour that the company is either about to be sold or floated. The figure of £2.0 bn keeps being mentioned.
Maybe the rumour has been triggered by the merger between MyTravel and Thomas Cook. Maybe Saga’s management have had a long look at the business and decided to cut and run?
Why the company should now be worth 50% more than Charterhouse Capital Partners paid for it is beyond me. Dick Stroud
No comments:
Post a Comment