Saga and AA in £6bn merger

Saga and the AA announced surprise merger plans today in a move creating a motoring and insurance giant worth £6bn (€8.9bn).

Saga and the AA announced surprise merger plans today in a move creating a motoring and insurance giant worth £6bn (€8.9bn).

Saga, which specialises in insurance and travel for the over-50s, will establish a new holding company with the AA, which boasts 15 million motorists as members.

Both companies are owned by private equity firms – Saga is controlled by Charterhouse while the AA is owned by Permira and CVC.

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