Historic British breakdown firm the AA faces £5billion takeover by German insurance giant

THE AA is facing a £5billion takeover swoop from German insurance giant Allianz. The German firm is one of a small number of parties holding talks with advisers to the roadside recovery giant about a potential deal, according to Sky News. Allianz has a market value of more than €169billion, which is around £144.6billion. Banking sources said the German insurer had been in discussions about an offer for several months. Sign up for the Money newsletter Thank you! They warned that the current state of the talks, and whether a deal will actually happen, remains unclear. At least one other bidder has also been circling the AA recently, alongside private equity firms including EQT, who explored a deal earlier this year. The AA’s current owners, a trio of private equity firms, have been weighing up a sale against the alternative of a stock market listing for most of this year. A return to the London Stock Exchange remains a possibility for 2027, with banks and advisers already lined up for the move. Allianz already has a strong presence in Britain, having owned LV=’s general insurance arm for the past seven years. It also owns pet insurance giant Petplan and became the title sponsor of Twickenham, the home of English rugby, in 2024. Most read in Money The AA has more than 16million customers, including close to 3.5million members, and last year attended 3.5million breakdowns across Britain’s roads. Allianz did not respond to a request for comment, while the AA and Towerbrook, one of its current owners, both declined to comment. Comment now