Top staff to enjoy £300m windfall

RAC is set to float for a valuation between £1.2bn and £2bn, according to reports.

If successful, the flotation would be double the value Aviva sold the business for in 2011 at £1bn.

Private equity firm Carlyle is considering listing the firm next month and hopes to fetch £2bn.

The private equity house is buoyed by the success of the AA, which floated in June.

CityAm says RAC chief executive Chris Woodhouse would make between £40m and £50m from the float, sharing around 22% of the executive share pool, while chairman Rob Templeman could make around £30m from his 13% stake in the share pool, according to Companies House filings.