German insurer Allianz weighs £5bn takeover of AA roadside rescue giant
Allianz, the German insurance behemoth, is considering a £5bn takeover swoop for the AA, the breakdown recovery group which ranks among Britain’s biggest membership organisations.
A major German insurer, Allianz, is reportedly considering a £5 billion takeover bid for AA, the breakdown recovery group, according to Sky News. The insurance giant is said to be among a select few parties engaged in discussions with AA's advisers regarding a potential deal. EQT, a private equity firm, is also rumored to be a bidder for the company.
Founded in 1905 by a group of automotive enthusiasts, AA is renowned in the UK for its distinctive yellow recovery vehicles. There are two main avenues currently being explored by AA's private equity owners: either a sale or a public listing on the London Stock Exchange. Originally floated on the stock market in 2014, AA was previously taken private by TowerBrook and Warburg Pincus in 2020.
The Financial Times had previously reported last year that AA was contemplating a £5 billion sale and actively seeking potential buyers.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
