RAC slams brakes on blockbuster London IPO

cityam00:07

London had been hoping for a £5bn IPO from motoring services firm the RAC The RAC has slammed the brakes on its £5bn London listing in favour of a private deal, landing another blow against the UK’s ...

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href=https://www.cityam.com/rac-slams-brakes-on-blockbuster-london-ipo/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>London had been hoping for a £5bn IPO from motoring services firm the RAC The RAC has slammed the brakes on its £5bn London listing in favour of a private deal, landing another blow against the UK’s ...</p>\n\n<a href=\"https://www.cityam.com/rac-slams-brakes-on-blockbuster-london-ipo/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IPO","symbol_name":"Renaissance IPO 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the firm.American private equity firm Silver Lake and Singaporean state investment fund GIC are in advanced talks to sell their stakes in the motoring services company to CVC and other investors, City AM has learned.Rumours of the group’s London IPO were fuelled in March when it held preliminary meetings with prospective investors and fund managers.The West Midlands-based firm has become one of the UK’s best-known roadside assistance groups since it was founded as the Royal Automobile Club in 1897.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IPO":"Renaissance IPO ETF","FRHC":"Euronext CAC Health Care","BK4127":"投资银行业与经纪业","IPOS":"Renaissance International IPO ETF","REDS":"RPM Republican Senate ETF","KCE":"SPDR KBW Capital Markets ETF","RAC":"Rithm Acquisition Corp"},"translate_title":"RAC 在伦敦重磅 IPO 上踩刹车","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RAC":1.5,"IPOS":1.5,"REDS":1.5,"KCE":1.5,"IPO":1,"FRHC":1.5},"content_text":"London had been hoping for a £5bn IPO from motoring services firm the RAC The RAC has slammed the brakes on its £5bn London listing in favour of a private deal, landing another blow against the UK’s ailing public markets. Britain’s oldest breakdown recovery service has begun working on a deal which would see private equity backer CVC Capital Partners remain a major investor while other shareholders exit the firm. American private equity firm Silver Lake and Singaporean state investment fund GIC are in advanced talks to sell their stakes in the motoring services company to CVC and other investors, City AM has learned. \n\nThe deal, if completed, would delay the company’s much-anticipated Initial Public Offering (IPO) by at least 18 months and likely even longer, it is understood. Were the RAC to significantly delay its float, the decision would extend the drought blighting the London Stock Exchange, as firms queue up for floats but are yet to give the green light. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCVC has been a shareholder in the RAC since 2015, when it snapped up the stake held by rival buyout firm Carlyle.\n\nRumours of the group’s London IPO were fuelled in March when it held preliminary meetings with prospective investors and fund managers. The West Midlands-based firm has become one of the UK’s best-known roadside assistance groups since it was founded as the Royal Automobile Club in 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