Money Makers Mentor

AA Motoring Group Considering Becoming Private Again

Motor rescue-and-insurance company Automobile Association Developments Ltd (The AA) will be going back into private equity. The company has agreed to a £219m (about $290.96 million) takeover from the UK investment firm TowerBrook Capital Partners and international PE firm Warburg Pincus LLC, which is headquartered in New York City.

The deal also includes an investment of about £380 million to help reduce the company’s debt of £2.65 billion ($3.46 billion), The AA said in a statement on Monday. The company’s accepting shareholders will get 35 pence for each AA share held. The AA will use the capital from the firms to support the refinancing of £541m of loan notes maturing in July 2022 and £372m of notes maturing in January 2022. The AA did not get back to The Buttonwood Tree in time t…

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