Saga PLC (LON:SAGA) shares edged lower on Tuesday amid reports the FTSE 250 group is looking to sell two of its leisure businesses as part of plans to streamline its operations.
The over-50s insurance and travel specialist is reportedly mulling the sale of its escorted-holidays provider Titan Travel and Destinology, which sell upmarket vacation packages.
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The pair could reportedly fetch a combined price in excess of £100mln.
According to Sky’s City editor, Mark Kleinman, Saga has hired professional services firm Duff & Phelps to gauge the appetite of potential suitors.
The possible disposals are said to be part of an effort by chief executive Lance Batchelor to focus on Saga’s own-branded businesses.
Investors will be looking for more detail from Batchelor, who has been at the helm for five years, at next month’s full-year results presentation.
Sky reported that the 55-year-old has also explored offloading non-core insurance assets in recent months.
A Saga spokesman declined to comment.
Saga shares fell 0.6% to 113.8p on Tuesday.