Saga to sell Bennetts Motorcycling Services for ?26m
By Michele Maatouk
Date: Monday 17 Feb 2020
(Sharecast News) - Over-50s specialist Saga has agreed to sell motorcycles insurance broker Bennetts for ?26m.
The business will be sold to Atlanta, which is part of the Ardonagh Group, one of the largest independent insurance brokers in the UK.
Chief executive officer Euan Sutherland said: "As Saga seeks to focus on our core branded business, I am pleased to announce we have agreed the sale of Bennetts. This is a good outcome for Saga shareholders and Bennetts customers who will find a good home in the Ardonagh Group."
Completion is subject to regulatory approval and other closing conditions.
At 0940 GMT, Saga shares were down 1.8% at 43.76p.
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