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Commission approves AA buyout
Publication date: 27 August 2004
The European Commission has cleared under the Merger Regulation an operation whereby funds ultimately controlled by CVC Capital Partners (Luxembourg), which is active in investment management, and the private equity fund Permira Europe III, which is controlled by Permira Holdings Limited (UK), acquire joint control of the AA, which provides breakdown and roadside assistance services in the UK and Ireland. The Commission found that this transaction will not lead to any competition problems, although CVC, through one of its portfolio companies, also sells insurance policies for breakdown and roadside assistance.
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