Aviva sells RAC France

by Gill Montia

Story link: Aviva sells RAC France

Aviva has announced that it has agreed the sale of RAC France in a management buyout backed by French private equity firm, Finadvance SA.

The business is based in Lyon and was acquired by Aviva in 2005, as part of RAC plc.

RAC France coordinates roadside assistance for RAC’s UK customers in Europe, whilst also providing extended car warranties.

However, the insurer says its services will still be available to RAC members driving in Europe, under a long-term contract between the two companies.

The deal is expected to complete by the end of the year and no financial details have been reported, save to say that RAC France has gross assets of £38 million.

Last week, Aviva announced new management structures for its UK Life and General businesses.

The group said the changes should maximise benefits of scale in the UK by allowing the units to adopt a shared approach to customers.