City Of London
Driving Services Firm RAC Said to Add Banks to London IPO
RAC attend to a car in Swansea, Wales, UK.
Photographer: Mike Kemp/In Pictures/Getty ImagesDriving services provider RAC has appointed more advisers to help arrange its potential initial public offering in London, according to people familiar with the matter.
The company, known for its breakdown cover, has picked Citigroup Inc., Banco Santander SA with Peel Hunt Ltd., BNP Paribas SA, Deutsche Bank AG and Morgan Stanley as joint bookrunners, said the people, who asked not to be identified to discuss private information. They are joining Bank of America Corp., Barclays Plc and Goldman Sachs Group Inc., which have been lined up to lead the share sale as global coordinators.