British Car Auctions, the second-hand dealership formerly owned by Tory grandee Lord Ashcroft, has been put up for sale after a pick-up in the market caused in part by the Government's cash-for-bangers scheme.
The sale of British Car Auctions would make Montagu Private Equity a potential profit of £150m
Montagu Private Equity is thought to have stamped a £600m price tag on BCA, the biggest company of its kind in Europe, buoyed by the surprising strength and growth in the second-hand car market.
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