Private equity picks up the AA for £219m

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A consortium of private equity providers Towerbrook and Warburg Pincus (also known as Basing Bidco) has agreed an offer to purchase insurance and breakdown cover provider the AA.

According to investor documents the deal, which comprises all the issued and to be issued ordinary share capital of the business, values the AA at £219m.

The two private equity houses teamed up in September to progress the talks.

In August, the AA confirmed that it was in talks with a number of parties with the

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