April 21, 2016 / 4:05 PM / 3 years ago

Saga Plc's largest shareholder to sell entire stake

April 21 (Reuters) - British travel and insurance company Saga Plc’s largest shareholder, Acromas Bid Co Ltd, is selling its entire stake in the company, the bookrunner on the deal said.

Acromas, which owns about 31.5 percent of Saga, was set up in 2007 to acquire Saga and AA Plc.

Acromas is owned by funds managed by Charterhouse Capital Partners, CVC Capital Partners and Permira, the private equity firms that listed Saga on the London Stock Exchange last year. (Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Ted Kerr)

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