Search

Newsmaker

ROYAL Automobile Club of WA chief executive Terry Agnew has announced that the not-for-profit organisation has bought Suncorp-Metway Ltd’s 50 per cent stake in RAC Insurance. The half-share was originally sold by RAC of WA to Promina, which was taken over by Suncorp-Metway, for $100 million in 2001. RAC exercised its right to buy back the stake after the Promina acquisition was finalised, exercising a clause in the original agreement relating to ownership changes in its joint venture partner. Mr Agnew said industry rationalisation and technology changes reduced the need to have a joint venture partner. “We felt we were able to differentiate ourselves if we wholly owned the business,” Mr Agnew said.

Add your comment

BNIQ are supporters ofCancer Council WA

WA Revenue

2nd-Royal Flying Doctor Service$94.6m
3rd-Ability Centre$64.7m
4th-Telethon Kids Institute$60.6m
5th↑Rocky Bay$57.7m
6th↑Autism Association of WA$53.7m
110 charitable organisations ranked by WA revenue most recent financial year

Number of Employees

Charitable Organisations

BNiQ Disclaimer