Fleet News

Centrica heads speculation on RAC Motoring Services sale

COMPANIES are queuing up to express interest in buying RAC Motoring Services following the collapse of a takeover bid by Cendant Corporation, owner of Green Flag. The latest speculation surrounds Centrica, owner of the British Gas and Goldfish financial services, which has not ruled out suggestions it is looking to buy RAC Motoring Services.

The vehicle breakdown services division of the RAC is seen to be ripe for takeover after Cendant withdrew its £450 million offer. The deal fell through when the Monopolies and Mergers Commission said Cendant could only proceed if it sold Green Flag. A spokesman for Centrica said on Monday: 'We are obviously looking at all sorts of operations. But it's very early days and we're not saying anything officially.'

Venture capital groups, including Cinven, the Prudential's PPM Ventures arm and Schroder Ventures are also understood to be interested in bidding for RAC Motoring Services. A final decision is expected to be made in May.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee