Advertisement
UK markets closed

  • FTSE 100

    8,075.28
    +34.90 (+0.43%)
     

  • FTSE 250

    19,599.28
    -120.09 (-0.61%)
     

  • AIM

    753.20
    -1.49 (-0.20%)
     

  • GBP/EUR

    1.1657
    +0.0012 (+0.10%)
     

  • GBP/USD

    1.2495
    +0.0032 (+0.26%)
     

  • Bitcoin GBP

    50,933.86
    -960.75 (-1.85%)
     

  • CMC Crypto 200

    1,374.28
    -8.30 (-0.60%)
     

  • S&P 500

    5,009.20
    -62.43 (-1.23%)
     

  • DOW

    37,858.96
    -601.96 (-1.57%)
     

  • CRUDE OIL

    82.35
    -0.46 (-0.56%)
     

  • GOLD FUTURES

    2,343.20
    +4.80 (+0.21%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,908.08
    -180.62 (-1.00%)
     

  • CAC 40

    8,019.00
    -72.86 (-0.90%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

CVC Capital nears a 2.2 billion euro deal for UK's RAC - Sky News

Reuters

(Reuters) - Private equity firm CVC Capital Partners Ltd is expected to announce a 2.2 billion euro (£1.55 billion) deal to take a majority stake in RAC Ltd, Britain's second-largest roadside recovery group, Sky News reported.

The agreement involves purchase of close to 50 percent of RAC from U.S. private equity firm Carlyle Group LP (CG.O), which bought the company from Aviva Plc (AV.L) in 2011, Sky reported, citing people familiar with the matter.

Last year, Singapore's sovereign wealth fund, GIC Pte Ltd [GIC.UL], bought a undisclosed stake in RAC. The deal resulted in GIC and Carlyle jointly owning a majority stake in RAC, with the company's management holding the rest.

Representatives at CVC Capital Partners, Carlyle and RAC were not immediately available for comment.

(Reporting by Sneha Teresa Johny in Bengaluru; Editing by Lisa Shumaker)