AA owner appoints bankers

Acromas, the private equity backed owner of AA and Saga, has hired UBS and Lazard to help it draw up plans to sell, float or refinance the businesses.
It follows the appointment of Ernst & Young at the end of last month to undertake due diligence to value its assets, as it mulls its options ahead of its debt maturity date in September 2015. It is understood the firm has appointed the investment banks to help it draw up plans by next summer.