William Fry And King & Wood Malleson Advises The AA On The Sale of AA Ireland
AA

William Fry and King & Wood Malleson have advised the AA, the UK’s largest breakdown cover organisation, on the sale of its Irish business and operations, AA Ireland Limited, to US-Irish private equity fund Carlyle Cardinal Ireland.  AA Ireland and the AA will enter into a long term Ongoing Services Agreement, which will preserve the current trading arrangements between the AA and AA Ireland for the benefit of both groups.

AA Ireland, one of Ireland’s leading consumer services businesses, provides insurance broking and roadside assistance services to private individuals and corporate entities in Ireland.

The transaction is subject to approval by the Competition and Consumer Protection Commission in Ireland and by the Central Bank of Ireland as a result of the change to the ownership of a regulated insurance broker business and is expected to complete in late July 2016.

The William Fry Team was led by Corporate Partner Stephen Keogh whilst the King & Wood Mallesons team was led by Corporate Partner Rob Day.

Mark Millar, General Counsel for the AA, said “We are very pleased to announce the sale of AA Ireland, and are confident that under Carlyle’s ownership the business has exciting opportunities for its continued success.  The ability of KWM and William Fry to field a multi-disciplinary team was key to our being able to successfully arrange the separation of this business, which has been under common ownership for over a century.”

 

Key Contacts

Stephen Keogh Partner

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