BCA Sold

Michael Ashcroft has sold his substantial shareholding in British Car Auctions (BCA) as part of a £450 million transaction involving Montague Private Equity. Following Lord Ashcroft’s initial investment in the company in 1996 BCA grew to become Europe’s largest car auction business with annual sales of nearly £3.3 billion and pre-tax profits (2004) of £24 million.

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