AA could face £5bn takeover move by German insurer Allianz, reports claim
Summary
German insurance company Allianz is thinking about buying the British breakdown recovery company AA for about £5 billion. Other buyers, like the investment group EQT, are also talking with AA’s advisors. AA’s current private owners are trying to decide between selling the company or listing it again on the London Stock Exchange.Key Facts
- Allianz is a German financial services and insurance company.
- Allianz may buy AA for around £5 billion, according to reports.
- EQT, a private equity firm, is another potential buyer interested in AA.
- AA is known in Britain for its yellow roadside assistance vehicles.
- AA was started by car enthusiasts in 1905.
- AA was taken private in 2020 by TowerBrook and Warburg Pincus, private equity owners.
- Before 2020, AA was listed on the London Stock Exchange since 2014.
- AA’s owners are considering selling the company or returning it to the public stock market.
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