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AA Ireland up for sale again?

AA Ireland up for sale again? | Insurance Business

AA Ireland up for sale again?

If reports are to be believed, it looks like AA Ireland could be facing another shift in ownership.

The Irish insurance intermediary and roadside assistance provider is currently owned by Carlyle Cardinal Ireland (CCI), which in 2016 teamed up with Carlyle Global Financial Services Partners (CGFSP) to purchase AA Ireland from UK-based AA Plc for €156.6 million (around £141.2 million).

Now a report by The Sunday Times said CCI and CGFSP are actively considering an approach to acquire the business, which has been operating in Ireland for over a century.

Read more: The AA agrees to sell Irish business

According to the publication, talks are underway with the unnamed potential buyer. No offer has been made at this point, and there is no guarantee that one will come out of the ongoing discussions.

Earlier this month, AA Ireland’s previous parent announced being approached by three interested bidders itself. The AA said private equity (PE) firms have expressed the possibility of snapping up the group’s entire issued and to be issued ordinary share capital.

Prior to its public listing in 2014, AA Plc was under the ownership of PE companies CVC, Charterhouse, and Permira.