Skip to content Skip to footer

AA up for sale

Share on facebook
Share on twitter
Share on linkedin

Centrica, Britain’s biggest gas and electricity supplier, is to sell off its non-core asset the Automobile Association

The sale of the AA is expected to provide for a substantial cash return to shareholders as well as to pay for more gas acquisitions.

The group paid £1.1bn for the AA in 1999. The effective price, however, was £740m as the motoring organisation came with £360m of cash. AA’s profits have risen from £6m in 1999 to £93m last year. Its membership has risen from 9.5m to 15m over the same period.

Show CommentsClose Comments

Leave a comment