Saga announces appointment on financial advisorsFriday 11 May 2007
Saga announces appointment on financial advisors
Saga Holdings Limited ("Saga"), the leading provider of products and services specifically designed for people aged 50 and over in the UK, announces that it has appointed UBS and Merrill Lynch to assist the board of Saga in exploring a possible Initial Public Offering ("IPO") in the second half of 2007. In the event of an IPO, UBS and Merrill Lynch will be Joint Bookrunners. UBS will also perform the role of Sole Global Co-ordinator and Sponsor.
Close Brothers will continue to provide independent financial advice to the board of Saga.
The information contained herein is not for publication or distribution in the United States of America. These materials do not contain or constitute an offer of securities for sale or an invitation or offer to the public or form of application to subscribe for securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under that Act or an available exemption from it.
Notes to Editors-
Saga is the UK's leading provider of products and services specifically designed for people aged 50 and over.
Saga has seen considerable development since 2004, when it was the subject of a 1.35 billion management buyout backed by Charterhouse.
The Saga management team and Charterhouse agree that now is an appropriate time to consider the best future ownership structure to allow the company to maximise its growth potential.
Since 2004 Saga has achieved strong growth in its core markets of insurance, travel, and cruise holidays where it has increased its own fleet from 1 to 3 ships.
Insurance services provide the largest part of Saga's earnings and customer volumes, especially motor and home insurance.
Saga also publishes the award-winning monthly Saga Magazine which has over 600,000 paying subscribers.
For more on Saga’s products and services see www.saga.co.uk
For further press information please contact the Saga Press Office on: 01303 771529.
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