27th Jul 2015 16:19
LONDON (Alliance News) - Acromas Bid Co Ltd, owned by by funds managed or advised by Charterhouse Capital Partners, CVC Capital Partners and Permira, plans to sell a minimum of 19.5 million shares in Saga PLC, or a 1.7% interest.
Acromas currently has a 50.67% interest in Saga, according to Morningstar, so the sale would bring it below a majority stake, to 48.97%.
The placing will be conducted via an accelerated bookbuild, to be carried out by Bank of America Merrill Lynch as sole bookrunner and Numis as lead manager.
Acromas said the secondary placing was in response to enquiries from institutional investors.
The price of the placing will be disclosed after the close of the bookbuilding process.
Shares in Saga closed down 0.6% at 212.90 pence Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
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