AA plc (LSE:AA.) announced it will enter discussions on a possible takeover by a private equity consortium of TowerBrook Capital Partners L.P. and Warburg Pincus LLC after Centerbridge Partners, L.P. and Platinum Equity Advisors, LLC opted not to bid for the UK roadside assistance services provider. The AA said the consortium has confirmed its strong interest in making an all-cash offer for the business, which would include paying off its debt. The company earlier said it will need to repay GBP 913 million (USD 1.16 billion/EUR 995.4 million) of debt by 2022. A potential proposal by the investor group is still subject to due diligence checks and the AA cautioned that the talks may not result in a firm offer. The announcement came after both Centerbridge and Platinum Equity said that they have decided not to make an offer for the AA and have ended talks with the UK company's board by mutual agreement. Earlier media reports suggested that Warburg Pincus had offered Centerbridge to join the bidding consortium whereas Platinum Equity was preparing a rival offer of its own.