Clayton Dubilier & Rice is leading a pack of potential bidders for RAC, the roadside rescue business being sold by British insurer Aviva, Reuters reported, citing an article in the Sunday Times. The buyout shop plans to run Aviva alongside BCA Europe, the European second-hand car dealer it bought last year, according to the Times. The Carlyle Group is also among potential bidders.
(Reuters) – Private equity group Clayton Dubilier & Rice is leading a pack of potential bidders for RAC, the roadside rescue business being sold by British insurer Aviva , the Sunday Times newspaper reported.
The paper, without citing sources, said Clayton Dubilier & Rice planned to run the business alongside BCA Europe, the European second-hand car dealer it bought last year.
Bids for RAC are likely to be be pitched around 600 million pounds ($982 million), or 1 billion pounds including debt, it added.
Other bidders are thought to include private equity firm Carlyle, which like Clayton Dubilier & Rice owns a stake in car rental firm Hertz, the newspaper said.
None of the parties mentioned could immediately be reached for comment.
(Reporting by Mark Potter; Editing by Mike Nesbit)
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