A German financial services giant is exploring a potential multi-billion-pound acquisition of a major UK breakdown recovery provider, according to reports. Advisers to the company are reportedly in discussions with several interested parties, including a private equity firm and a major insurance group. The talks suggest growing consolidation in the sector, with financial backers weighing high-value bids. Details remain under wraps as negotiations continue behind closed doors.
Breakdown recovery group’s private equity owners reportedly in talks with various suitors to sell companyThe German-based financial services company Allianz is considering a £5bn takeover swoop for AA, the breakdown recovery group, Sky News has reported.Allianz was one of a small number of parties holding talks with advisers to AA about a deal, Sky News said, adding that the private equity outfit EQT was another bidder. Continue reading...
