RAC abandons London float in favour of private deal

Summarised from 2 outlets · Updated 22 Sept, 17:19 · Archive

The RAC is scrapping plans for a London stock market listing, instead pursuing a private transaction.

Britain's oldest breakdown recovery service had been considering a multibillion pound listing but is now opting for a private deal. Private equity firm CVC Capital Partners is expected to remain a major investor while other shareholders will exit.

How it is being reported

• RAC slams brakes on blockbuster London IPOThe RAC has slammed the brakes on its £5bn London listing in favour of a private deal, landing another blow against the UK’s ailing public markets. Britain’s oldest breakdown recovery service has begun working on a deal which would see private equity backer CVC Capital Partners remain a major investor while other shareholders exit the [...]City AM · 22 Sept, 17:07
• RAC shelves London float as owners opt for continuation vehicleThe RAC, Britain's oldest breakdown recovery service, is shelving plans for a multibillion pound London stock market listing in favour of a deal that will see two of its three shareholders offloading their stakes in a private transaction.Sky News · 22 Sept, 15:03

In this story: RAC · CVC Capital Partners · London

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