Local Transport Today is the authoritative, independent journal for transport decision makers. Analysis, Comment & News on Transport Policy, Planning, Finance and Delivery since 1989.

AA management sale and flotation

13 June 2014
 

Acromas is selling the AA to a management buy-in team backed by a number of institutional investors for £930m. The AA will then be floated on the London Stock Exchange, with the company expected to issue approximately £210m of new shares. Acromas will retain a 31% of shareholding but plans to sell that stake to new investors. In the year ended 31 January the AA generated trading revenue of £973.9m. Roadside assistance is the largest division of the company, accounting for...

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