RAC members approve spin-off
RAC members approve spin-off
THE ROYAL Automobile Club yesterday moved closer to demutualisation as its members overwhelmingly endorsed a proposal to spin off its roadside assistance service. The vote at an extraordinary general meeting was the first step in a two-stage process to sell RAC Motoring Services to US direct marketing group Cendant for pounds 450m. Following the reorganisation, members plan to vote again in August on whether to complete the sale.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies