26.09.2014 - GIC Agrees to Become a Shareholder in RAC With Carlyle
Carlyle Group LP agreed to sell a stake in U.K. roadside assistance company RAC Ltd. to Singaporean sovereign wealth fund GIC Pte. The world’s second-largest manager of investment alternatives to stocks and bonds will become a joint shareholder with GIC, and RAC management will retain a minority stake, the two companies said in a statement today. The value of the transaction wasn’t disclosed. “Both Carlyle and GIC believe that RAC has a clear strategy with significant growth potential,” Andrew Burgess, partner at Carlyle Group, said in the statement. “GIC will provide a solid partnership for the business.”..............................................Full Article: Source
Print