Saga considers stock market flotation

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The announcement that Saga, which targets the over-50s, had appointed advisers to help it explore future ownership options comes 30 months after the business was sold in a £1.35 billion management buyout backed by private equity firm Charterhouse.

A deal could trigger fresh windfalls for staff as Charterhouse set up an employee share scheme at the time of its takeover. The business is 20 per cent owned by management and staff, with the rest in the hands of Charterhouse.

Workers benefited at the time of the 2004 sale as Roger De Haan, who owned 100 per cent of the over 50s venture founded by his father Sidney in 1951, offered staff - including company pensioners - £1,000 for every year of service.

Saga chief executive Andrew Goodsell said the business had made "excellent progress" in the period since the management buyout.

He added: "We are well ahead of expectations, and consistently outperforming our business plans. The management team and Charterhouse agree that this is an appropriate time to consider the best future ownership structure to allow the company to maximise its growth potential."

Saga said the investigations could lead to a flotation in the second half of the year, although it stressed that nothing had been decided yet.

Mr Goodsell added: "There was great interest in an initial public offering (IPO) in 2004, though our outgoing shareholder decided not to pursue a float at that time. It is too early in the process to predict the outcome this time, but we will be making further announcements in due course."