German insurer Allianz weighs $6.77 bn takeover of AA roadside rescue giant: Report

​Germany-based financial services company ​Allianz is considering a £5 ​billion ($6.77 billion) takeover swoop for AA, the breakdown recovery group, Sky News reported on Saturday.

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.

Allianz is ⁠one of ‌a small number ​of ​parties which have been holding talks ⁠with advisers to the AA about ​a deal, Sky News said, adding ​that private equity firm EQT was another bidder.


The AA's private equity owners have been pursuing a so-called dual-track process for most ‌of this year, with the alternative to a sale being ​a public ​listing on ⁠the London Stock Exchange, Sky News said.

Both companies declined to comment.

The Financial Times reported last year that the British roadside recovery company was eyeing a £5 billion sale and was seeking buyers.

($1 = 0.7390 pounds)