Stonepeak Partners to Invest in Breakdown Coverage Firm AA

Stonepeak Partners entered into an agreement to invest in AA Ltd., the breakdown coverage firm said in a statement.

The alternative investment firm will become a minority shareholder of AA, according to the statement Saturday. AA didn’t disclose the size of the investment.

Sky News earlier reported Stonepeak was nearing a £450 million ($572 million) investment into AA, which is owned by private equity firms TowerBrook and Warburg Pincus. The investment will amount to a 15% stake in AA, Sky said, citing people familiar with the matter, and a deal would imply an enterprise value for the ...