The AA today announces that Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, has entered into an agreement with the AA, and its majority shareholders TowerBrook Capital Partners and Warburg Pincus, to invest into the company and become a minority shareholder.
This transaction is expected to close in the first half of 2024, subject to customary closing conditions including the receipt of regulatory approvals.
If the transaction closes, it is expected that, as part of Stonepeak’s investment, £180m would be provided to the AA group to redeem £180m of the AA’s £280m Class B3 Notes on or before the interest payment date in July 2025, a substantial proportion of which would be redeemed shortly after the closing of the transaction.
