| The private equity owner of RAC has decided to ditch a stock market float in favour of a £2bn-plus sale to Singapore’s sovereign wealth fund. Carlyle, which bought the breakdown business for £1bn from insurer Aviva three years ago, is locked in talks with Government Investment Corporation (GIC) of Singapore.
Sources indicated the sale, first reported by Sky News, could be announced as early as Wednesday afternoon. Although it is thought unlikely the final sale price will be announced alongside details of the transaction, Carlyle would only opt to sell rather than float the business in return for a healthy premium..............................................Full Article: Source
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