RAC to buy out Axa interest and renew Axa Direct
RAC has agreed to buy out Axa Insurance's interest in RAC Financial Services and to acquire the rene...
RAC has agreed to buy out Axa Insurance's interest in RAC Financial Services and to acquire the renewal rights of Axa Direct.
The move follows Axa's decision to abandon the direct route earlier this year and completes the disposal of all its direct interests.
The acquisition will enable RAC to control its financial services strategy, which, it said, is an important step towards developing a significant presence in this area.
The consideration will be satisfied by a cash payment of £29.8m on
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