Aviva Sells UK Roadside Concern To Carlyle For $1.6B

Law360, New York (June 23, 2011, 11:56 AM EDT) -- Aviva PLC said Thursday it will sell its RAC Ltd. roadside assistance business to the Carlyle Group LP for $1.6 billion in a deal that will help the London insurance giant focus on its core business.

The Carlyle Group, meanwhile, intends to keep current management intact at the U.K.'s second-largest roadside assistance company and profitably grow the business as part of its more than $107 billion in assets under management, Aviva said.

In 2009 Aviva raised nearly $2 billion when it conducted an initial public offering...
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