Private equity picks up the AA for £219m
An offer from Towerbrook and Warburg Pincus has been recommended to shareholders.
A consortium of private equity providers Towerbrook and Warburg Pincus (also known as Basing Bidco) has agreed an offer to purchase insurance and breakdown cover provider the AA.
According to investor documents the deal, which comprises all the issued and to be issued ordinary share capital of the business, values the AA at £219m.
The two private equity houses teamed up in September to progress the talks.
In August, the AA confirmed that it was in talks with a number of parties with the
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