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Sovereign Wealth Funds Briefing - Categorized | Investment

Carlyle to Sell Stake in U.K.’s RAC to Singapore’s Sovereign-Wealth Fund

Posted on 26 September 2014

Carlyle Group has agreed to sell a stake in U.K. roadside-assistant provider RAC to Singapore’s sovereign-wealth fund instead of selling shares in the company to the public as it previously intended. The deal values RAC at more than £2 billion ($3.3 billion), a person familiar with the transaction said.
Carlyle and GIC will jointly own a majority stake and RAC managers will own a minority of the shares, the companies said Thursday in a joint statement. The price wasn’t disclosed. The investment is expected to be completed by the end of the year………………………………………..Full Article: Source


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