Charterhouse Snaps Up Saga for Pounds 1.35 Billion

Evening Standard - London › October 04, 2004

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Summary

CHARTERHOUSE, the private equity firm that owns Tussauds, today won the 11-month auction for Saga, the holidays and insurance group for the over-50s .

It is backing a management buyout that values the Folkestone- based group at Pounds 1.35 billion and makes 56-year-old chairman Roger de Haan, son of Saga founder Sidney, one of the 20 richest people in Britain.

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Extract

Charterhouse Snaps Up Saga for Pounds 1.35 Billion

Charterhouse pipped a rival bid from a consortium including JP Morgan and Candover. Both firms made offers which de Haan's advis...

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