GIC in talks to buy British roadside rescue business RAC for $4.16b

To end an expected share listing.

Reuters reported that Singapore's sovereign wealth fund, GIC, is in talks to buy the British roadside rescue business RAC Ltd from U.S. private equity firm Carlyle Group LP for over 2 billion pounds, Sky News reported, citing a person familiar with the talks.

According to Reuters the British broadcaster said the sale to GIC was likely to end an expected share listing of RAC. Sky added that GIC might instead take a large minority stake in RAC before an initial public offering.

Sources told Reuters in June that RAC was considering an IPO this year in a deal that media reports have said could value the company at 2 billion pounds.

Sky said, without citing sources, that CVC Capital Partners had also expressed interest in buying RAC.