| GIC, the Singapore-based sovereign wealth fund, is close to an agreement to buy 50 per cent of RAC from its owner, buyout fund manager Carlyle, in a move that is expected to derail plans to list the British roadside recovery company.
The private equity house is leaning towards a deal whereby it would keep half of RAC, sell the rest to GIC and pay itself a dividend by adding more debt to the company, in a so-called recapitalisation, according to people with knowledge of the discussions. The transaction would value RAC at more than £2bn including its debt...............................................Full Article: Source
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