Sept 23 (Reuters) - 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 ($3.28 billion), Sky News reported, citing a person familiar with the talks.
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. (bit.ly/1riGeNv)
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.
GIC, CVC, RAC and Carlyle were not immediately available for comment.
1 US dollar = 0.6100 British pound Reporting by Rama Venkat Raman in Bangalore; Editing by Larry King