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Private equity-backed AA receives flotation approach from Cenkos

17 Mar 2014

road2_170sqPrivate equity-backed breakdown service AA has received takeover offers from multiple suitors including Cenkos Securities.

The investment bank is looking to secure support from institutional investors including BlackRock, Aviva and JP Morgan to buy stake in AA in an IPO in London.

The company is currently owned by Charterhouse, Permira and CVC.

“We can confirm we have received a number of unsolicited proposals since the successful securitisation of the AA including one from Cenkos,” AA’s holding company Acromas Holdings said in a statement.

“While we take all such proposals seriously, no decision to sell the AA has been taken.”

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