UK investment group Kelso buys stake in travel firm Saga
Jan 6 (Reuters) - Investment firm Kelso Group Holdings KLSO.L said on Tuesday it had bought 400,000 shares in British travel company firm SAGA.L and submitted proposals to its board aimed at boosting value, including attracting more U.S. investors.
Kelso's investment, worth 1.55 million pounds ($2.1 million), gives it a 0.3% stake in Saga, which had a market value of 552.1 million pounds as of Monday's close.
Saga, which targets customers aged over 50 and offers services from cruises to insurance, has recovered from pandemic-related losses in recent years, helped by steady profitability, driven by strong travel demand and a strategic overhaul of its insurance arm.
Kelso also holds stakes in cybersecurity firm NCC Group NCCG.L, e-commerce firm THG THG.L, and investment vehicle Selkirk SELK.L.
($1 = 0.7378 pounds)
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