The British Automobile Association has sold over 2.6 billion Euro

The British Automobile Association has sold over 2.6 billion Euro British Centrica reached agreement on the sale of the Automobile Association Ltd (AA) the company CVC Capital Partners for 2.6 billion euros (1.75 billion pounds), according to the press service of Centrica. The buyer will be a subsidiary of CVC, Permira Advisers Ltd. From funds received Centrica about 1.5 billion euros will be spent on the payment of dividends of approximately EUR 750 million on the repurchase of own shares. In addition, Centrica has announced an increase in the volume of planned investments in the energy sector in the next five years. Today Centrica is the largest national energy distributor.Automobile Association (AA) is one of the largest automotive companies. The company was founded 1905. as a public organization. Currently, AA operates a network of gas stations, hotels, and provides various services to car owners. The company's net income in 2003. amounted to 138 million (93 million pounds). Revenue AA for the period amounted to 1.1 billion euros (797 million pounds). As at 31 December 2003. net assets AA are more than 960 million euros.02.07.2004.



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