AA set for stock market flotation

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The AA is poised for a £1.4 billion stock market flotation that will see control of the UK's biggest roadside recovery firm pass to a group of City investors.

The business, which was founded in 1905 and has four million members, is currently owned by Acromas Holdings, the private equity-backed firm behind the recent sale of shares in over-50s holidays and insurance company Saga.