1024 GMT - Saga PLC shareholders will hope that the Ageas deal removes an anchor on its share price and frees it up to take sail as a successful travel and finance brand, AJ Bell says in a market comment. The U.K. group agreed on a 20-year partnership with Belgian insurer Ageas, to whom it is also selling its underwriting business. Saga's move to put this struggling business in the hands of an experienced operator and get a useful injection of cash is well-received by the market, Russ Mould writes. "However, the business has a long way to go to fix its balance sheet and repair its credibility with the market," he adds. Saga shares rise around 9% to 135 pence, limiting its year-to-date losses to 7%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 05:24 ET (10:24 GMT)
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