Private equity house Carlyle Group aims to sell off up to 20% of its stake in RAC.

Carlyle bought RAC from Aviva for £1bn – which values the stake at around £200m.

Singaporean sovereign wealth fund GIC is waiting in the wings to snap up a share, City AM reports.

Aviva agreed to keep the RAC pension fund, but on the condition that Carlyle improved its equity bid, the newspaper reports.

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