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RAC puts IPO plans on ice after securing new backing

investment-choice

Roadside assistance firm RAC has shelved plans for an initial public offering after gaining new financial backing from Singapore-based sovereign wealth fund GIC.

GIC has entered into an agreement with RAC's major shareholder, alternative asset manager Carlyle Group, to become a co-shareholder in the firm.

Carlyle had been widely tipped to take the firm public

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