24.09.2014 - Singaporean Fund Revs Up GBP2bln RAC Takeover
A Singaporean state fund is in secret talks to lead a £2bn-plus takeover of the RAC, a move that would end the prospect of a stock market listing of the famous roadside recovery business. Sky News can reveal that the Government Investment Corporation of Singapore (GIC) is discussing with Carlyle, the RAC's existing owner, a deal that could be struck within days. GIC is understood to have been interested in participating in a takeover of the RAC, which has 8.2 million members, for some time, having been enticed by the company's stable cashflows and growth prospects, according to a person close to the situation...............................................Full Article: Source
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