Kent-based Saga is set to be launched on to the stock market, which owns Saga and the motor services firm AA, will split the two businesses later this month.

according to the International Financial Review.

It states the £4 billion refinancing of private equity firm Acromas,

The majority of Acromas’s debt pile will be put on to the AA, leaving Saga relatively light in debt and able to undertake an initial public Young was appointed last year to carry out valuations for the backed with £4.8 billion of debt. Its net bank and other borrowings stood at £4.1 billion in 2011-2012. The decision to refinance comes amid stronger the speculation and said: “We are focusing on running the business well and there is no rush to do anything.”

offering (IPO) where stock market shares are sold to the public.

Around 10 banks are working on the deal and accounting firm Ernst &

companies as two separate entities.

Acromas is owned by private equity firms Charterhouse, CVC and Permira

and was formed in 2007 through the £6.2bn merger of Saga, that is based in Folkestone, and the AA.

Acromas has performed well since its 2007 acquisition, which was

credit market conditions.

Saga director of communications Paul Green did not confirm or rule out