TowerBrook and Warburg Pincus team up to progress AA takeover talks
Centerbridge and Platinum Equity have pulled out of discussions "by mutual agreement" as AA continues to explore options including an equity raise.
TowerBrook Capital Partners and Warburg Pincus International have formed a consortium in order to make a potential offer for AA.
AA stated that the consortium had “confirmed its strong interest” in pursuing a possible all-cash offer for the business, with the intention to de-lever the AA’s capital structure significantly. The Group stated that this was in line with its own objectives.
In August, the company confirmed that it was in talks with a number of parties with the possibility of an
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