Business & Finance
German insurer Allianz reportedly considering five billion pound takeover of AA
The British breakdown recovery group is also weighing a potential public listing on the London Stock Exchange.
The short version
- German financial services company Allianz is reportedly in talks to acquire the British motoring association and breakdown recovery group AA for £5 billion.
- Private equity firm EQT is also named as an active bidder alongside Allianz.
- The current owners of AA are pursuing a dual-track process that could alternatively lead to a public stock market listing.
Key facts
- Allianz is among a small number of parties holding discussions with advisers to the AA regarding a potential acquisition.[The Guardian]
- Private equity firm EQT has also been identified as a bidder for the breakdown recovery group.[The Guardian]
- AA's private equity owners, TowerBrook and Warburg Pincus, are running a dual-track process that includes the alternative of listing the company on the London Stock Exchange.[The Guardian]
- TowerBrook and Warburg Pincus took AA private in 2020 after the company had previously floated on the stock market in 2014.[The Guardian]
What remains uncertain
- It is not yet confirmed whether the talks will lead to a successful takeover or if AA's owners will instead choose the public listing route.[The Guardian]
- TowerBrook and Warburg Pincus both declined to comment on the reported acquisition talks.[The Guardian]
Sources
- AA could face £5bn takeover move by German insurer Allianz, reports claimThe Guardian - World