CVC Capital Partners has emerged as the frontrunner for the AA, Centrica's roadside recovery and insurance broking business, according sources close to the deal.
Centrica closed the bidding period last Friday. It is understood that Kohlberg Kravis Roberts (which bought Willis) also lodged a bid. Cinven and Inchcape are understood to have missed out on putting bids in.
CVC owns Kwik-Fit, which runs Britains 27th biggest insurance intermediary. AA Insurance is Britain's 8th biggest broker according to the Insurance Times Broker Top 50 list.
