Portuguese entrepreneur invests €11 million in UK’s Saga

 In Business, Companies, News

Portuguese tourism entrepreneur Mário Ferreira has payed €11 million for a 3.2% stake in British cruise ship operator Saga.

According to newspaper negócios, the man who also has a 30.22% share in the media group that owns TV station TVI, said he was “investing my savings from my personal holding Pluris in under-valued assets.”
Pluris became hyper-capitalised with the sale of 40% of Mystic Invest to American investors last year which bought Pluris in around €100 million, enabling Ferreira to make multiple investments in tourism, real estate, and media.
And it is through Pluris, which owns 30.22% of TVI, that Mário Ferreira has invested in Saga, a British cruise holiday and insurance company where he now has a more than 3% stake.
“I have been buying up shares in Saga since the start of the year and now I have a capital share of around 3.2% having invested around €10 million (€10.85 million),” he said in an interview with the newspaper.
The news was broken by a company communiqué from Saga to the British capital markets regulator FCA (Financial Conducts Authority) where such shareholding investments over 3% are mandatory.
Saga is listed on the London FTSE with a market value of £224.5 million (€243 million), whereby the position now owned by the Portuguese shareholder investor is around €7.2 million.