PRESS: Stock market return among options for AA - Sky News
AA Ltd, a provider of vehicle breakdown recovery services provider, could be set for a stock market return next year, Sky News reported on Saturday.
Towerbrook Capital Partners, Warburg Pincus and Stonepeak, which together own AA, are set to turn to bankers to conduct a review of AA’s options.
Sky News reported that JPMorgan and Rothschild are the favourites to be appointed to conduct the review.
Among the options that could be mulled are a listing, an outright sale, or a disposal of a stake, Sky News reported.
Sky News added that any transaction is likely not to occur until next year. A transaction could be valued at £4.5 billion. StonePeak had last year invested £450 million in the company, at a valuation of £4 billion.
AA had listed on the London Stock Exchange back in 2014. In November 2020, it agreed to a takeover from a consortium of TowerBrook funds and Warburg Pincus. It valued the roadside rescue firm at £219 million.
AA has previously been owned by Centrica PLC.
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