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AA sounds out buyers, and owners of fellow roadside assistance provider prefer IPO of similar value
The private equity owners of the AA, Britain’s biggest roadside recovery business, are looking for a potential £5bn sale or stock market flotation, while the owners of the rival RAC are targeting a London listing with a similar valuation.
The AA, which provides roadside assistance as well as insurance and driving lessons, is owned by a consortium including TowerBrook Capital Partners, Warburg Pincus and Stonepeak, and has been sounding out buyers, in news first reported by the Financial Times.
The business is valued at £5bn and is thought to have sparked interest from private equity companies and strategic buyers. The owners are also considering floating the AA on the London stock market – a decade on from its flotation by previous private equity owners. The plans are still in the early stages.
Source: www.theguardian.com
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