Lord Ashcroft expected to profit from BCA auction sale
Published September 21st, 2006
CONSERVATIVE Party donor Lord Ashcroft was in line for a multi-million pound windfall from the sale of his stake in British Car Auctions (BCA).
The Tory deputy chairman and former party treasurer is thought to be on the cusp of a £200m payday after he and other investors agreed to sell BCA to private equity firm Montagu for £450m.
Lord Ashcroft’s website confirms he has “a significant interest in BCA” which the Financial Times said was worth £200m in the sale.
Lord Ashcroft was one of 40 investors who bought BCA in 1995 from electronic security group ADT, which was then headed by the businessman and politician.
Yesterday, Montagu and BCA said they expected the deal to be completed by the end of next month.
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