AA News Update: Rumors For AA Takeover
AA News Update: It has just been reported that ACROMAS who own the AA as well as Saga may be preparing to break up. The three private equity groups, Charterhouse, CVC and Premira, own Acromas. These three private equity firms acquired the AA and Saga, an insurance company specialising in the over 50s in 2007 for £6.15 bn. Now with a sum of over £4bn in bank credit that will begin maturing in 2015 Acromas has plans to refinance with the use of a long term bond taking advantage of a debt market in the USA that is attracting investors who are snapping up corporate debt and taking advance of lower interest rates.
Reported in the Telegraph it is thought that a break up has now become a very likely course rather than a £9bn float of Acromas that has also been suggested. It is thought that the AA is likely to be sold off before Saga.
Whatever the machinations of high finance and business may be there is no doubt that the millions of AA members in the UK will be watching future developments with interest.
The AA have millions of customers in the UK who rely on them to offer help in case of a breakdown, to respond to a need for a home start or to perform any one of the many other functions that the AA offers. They boast more dedicated patrols than any of the other motoring organisations.
Breakdown and motorists services are big business in the UK and the AA, the largest motoring group has been in existence the longest of all the motoring organisations. It has been part of our lives since 1905 and has been coming to motorist’s rescue through all the decades since then. Nowadays it offers many more services to the motorists than just breakdown cover, such as helping to organise finances and even assisting members when the time comes for them to replace their vehicle by purchasing a new or second hand car.
Additionally the AA and The AA Motoring Trust have also provided expertise on transport issues and have been recognised for their competence in this area by their customers, as well as by the public. Recognition of their contribution has also come from safety experts and from the Government.
Whether you want to sign up for AA breakdown cover or one of the many other services that the AA can offer then you will be able to reach their customer service help line through their contact number 0844 335 0826.
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