Kelso Investment Group Acquires Stake in Saga, the Travel and Insurance Company

Investment firm Kelso Group Holdings announced on Tuesday that it has acquired 400,000 shares in the British travel company Saga. This strategic move is part of Kelso’s broader initiative to enhance shareholder value, which includes proposals aimed at attracting more U.S. investors to the company.

Kelso’s investment, valued at £1.55 million (approximately $2.1 million), translates to a 0.3% stake in Saga. As of Monday’s market close, Saga had a market capitalization of £552.1 million, reflecting its recovery trajectory following pandemic-related challenges.

Saga primarily targets customers aged 50 and above, offering a diverse range of services that include cruises and insurance. The company has shown resilience in bouncing back from pandemic-induced losses, bolstered by consistent profitability. This recovery has been driven by a surge in travel demand and a strategic overhaul of its insurance division, positioning Saga for future growth.

In addition to its investment in Saga, Kelso Group Holdings also maintains stakes in several other firms, including cybersecurity company NCC Group, e-commerce giant THG, and the investment vehicle Selkirk. This diversified portfolio underscores Kelso’s commitment to investing in sectors with strong growth potential.

(Exchange rate: $1 = £0.7378)

(Reporting by Shashwat Awasthi in Bengaluru; editing by Rashmi Aich)

Photograph: Generated with AI, AdobeStock

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Investment firm Kelso Group Holdings announced on Tuesday that it has acquired 400,000 shares in the British travel company Saga. This strategic move is part of Kelso’s broader initiative to enhance shareholder value, which includes proposals aimed at attracting more U.S. investors to the company.

Kelso’s investment, valued at £1.55 million (approximately $2.1 million), translates to a 0.3% stake in Saga. As of Monday’s market close, Saga had a market capitalization of £552.1 million, reflecting its recovery trajectory following pandemic-related challenges.

Saga primarily targets customers aged 50 and above, offering a diverse range of services that include cruises and insurance. The company has shown resilience in bouncing back from pandemic-induced losses, bolstered by consistent profitability. This recovery has been driven by a surge in travel demand and a strategic overhaul of its insurance division, positioning Saga for future growth.

In addition to its investment in Saga, Kelso Group Holdings also maintains stakes in several other firms, including cybersecurity company NCC Group, e-commerce giant THG, and the investment vehicle Selkirk. This diversified portfolio underscores Kelso’s commitment to investing in sectors with strong growth potential.

(Exchange rate: $1 = £0.7378)

(Reporting by Shashwat Awasthi in Bengaluru; editing by Rashmi Aich)

Photograph: Generated with AI, AdobeStock

Related:

Topics
Mergers & Acquisitions