AA Owners Lining Up Banks to Lead Sale or Listing, Sky Reports

The owners of UK breakdown recovery service AA Ltd are seeking banks to lead a sale or listing of the business next year, Sky News reported on Saturday.

JPMorgan Chase & Co. and Rothschild & Co. are the top contenders to be appointed for a review of the business, which may be valued at more than £4 billion ($5.4 billion), according to the report.

Any form of deal is not imminent and is unlikely to take place for at least 12 months, Sky said.

AA was once listed in London before being acquired by private equity investors in 2021. It ...