Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AA    AA.   GB00BMSKPJ95

AA

(AA.)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

AA : Britain's AA seals sale to private equity groups

11/26/2020 | 03:05am EST
FILE PHOTO: An AA (Automobile Association) recovery vehicle drives along the M6 motorway near Knutsford.

(Reuters) - British roadside recovery company AA Plc agreed a sale to private equity groups Warburg Pincus International and TowerBrook Capital Partners on Wednesday, in a deal that digs a popular UK institution out of financial problems deepened by the coronavirus pandemic.

AA's board said it had accepted a cash offer of 35 pence a share, a premium of 40% to the company's share price prior to the start of talks on a sale in August and above the 31.8 pence at which its shares closed on Tuesday.

The deal, which valued the company at 219 million pounds, was in line with an overnight report in the Financial Times and also outlined an injection of 378 million pounds in extra capital to reduce the company's debt pile.

"AA has been labouring under too much debt for a long period of time," the board said in its statement on the deal.

AA, founded by a group of motoring enthusiasts in 1905 and known in Britain for its yellow recovery vehicles, was taken public by its previous private equity owners in 2014 at 250 pence a share.

The consortium said on Wednesday it viewed the company's car insurance business as a key potential driver of growth, and would also seek to use the company's brand to invest in areas like driving schools and financial services.

(Reporting by Patrick Graham; Editing by Shounak Dasgupta)


© Reuters 2020
All news about AA
01/20AA : Prices $383 Million of Secured Notes Due 2050
MT
01/18AA : to Issue $379 Million of Class B3 Notes to Fund B2 Notes Redemption
MT
01/15DAVIDSON KEMPNER CAPITAL MANAGEMENT : Form 8.3 - AA plc
AQ
01/15LLB FUND SERVICES AG : - Form 8.3 - AA Plc
PR
01/14AA : Shareholders Clear Acquisition by Private Equity Consortium
MT
01/12LLB FUND SERVICES AG : - Form 8.3 - AA Plc
PR
01/11AA : Takeover by Private Equity Consortium Receives Support from Over 30% of Sha..
MT
01/05DAVIDSON KEMPNER CAPITAL MANAGEMENT : Form 8.3 - AA plc
AQ
2020DAVIDSON KEMPNER CAPITAL MANAGEMENT : Form 8.3 - AA plc
AQ
2020DAVIDSON KEMPNER CAPITAL MANAGEMENT : Form 8.3 - AA plc
AQ
More news
Financials
Sales 2021 956 M 1 311 M 1 311 M
Net income 2021 - - -
Net Debt 2021 2 617 M 3 590 M 3 590 M
P/E ratio 2021 5,95x
Yield 2021 -
Capitalization 217 M 296 M 298 M
EV / Sales 2021 2,97x
EV / Sales 2022 2,76x
Nbr of Employees 7 121
Free-Float 90,2%
Chart AA
Duration : Period :
AA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AA
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 32,50 GBX
Last Close Price 34,80 GBX
Spread / Highest target 0,57%
Spread / Average Target -6,61%
Spread / Lowest Target -13,8%
EPS Revisions
Managers and Directors
NameTitle
Simon John Breakwell Chief Executive Officer & Director
Edmund King President
John Leslie Leach Chairman
Kevin Jeremy Dangerfield Chief Financial Officer & Director
Ollie Holden Chief information Officer
Sector and Competitors
1st jan.Capitalization (M$)
AA3.26%296
TAL EDUCATION GROUP-5.27%40 667
GSX TECHEDU INC.35.27%16 679
BRIGHT HORIZONS FAMILY SOLUTIONS INC.-7.72%9 668
SERVICE CORPORATION INTERNATIONAL5.62%8 958
HOMESERVE PLC7.02%5 028