The field of private equity firms bidding for Saga has been narrowed to five, said a report.
It said UBS, the private investment bank auctioning off Saga, has narrowed the field to bids from Kohlberg Kravis Roberts, BC Partners, and Charterhouse, as well as two joint bids from Apax Partners and Cinven, and from Candover, JP Morgan Parners and Hg Capital.
According to the report, the bids are thought to be in the region of £1.2bn.
At the same time as considering bids for the insurance, holiday and media group, UBS is also exploring the possibility of a flotation.
