Information that News was able to obtain indicates that the London-listed insurance and tourism group and the investment firm Lazard are in the process of discussing potential joint venture agreements for the cruise industry.
Insiders said that prospective purchasers have been requested to submit indicative offers in April.
Saga and its advisors are considering a variety of options for the division, which runs the Spirit of Adventure and Spirit of Discovery, although the specifics of a deal have not yet been finalized.
Saga has been struggling for years due to a significant debt load.
It increased the substantial amount of money it owes its chairman, Roger de Haan, by £35 million last autumn.
The £150 million bond repayment, which is anticipated to be repaid from funds Mr. de Haan provided, is scheduled for May. Prior to this, the board of Saga will assess any new corporate activities.
