Anorak News | A Grey Pound Saga

A Grey Pound Saga

by | 5th, April 2007

IT seems that it’s Club 50-90 rather than Club 18-30 where the real money is.

Saga, the company who organise holidays for the over-50s, has decided to land its staff a whopping £500 million windfall as its love-affair with the aged continues.

The company, according to the Telegraph, has appointed investment bank Close Brothers to advise them with its “future ownership options”, which may signal a stock market float in the near future, a deal which would value the grey-pound grabbing company at around £2.5 billion.

Saga, which started in 1948 by opening a seaside hotel in Folkstone, has gone on to add share trading and insurance to its holiday business and even runs an over-50s MySpace site called Saga Zone.

Like the sadly-departed Anna Nicole Smith, Saga know where they big money is.

Posted: 5th, April 2007 | In: Money Comments (2) | TrackBack | Permalink