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Wed January 26 2022

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Auction house merger raises competition questions

14 Dec 21 The Competition & Markets Authority is investigating the acquisition of Euro Auctions Group by Ritchie Bros Auctioneers.

The Competition & Markets Authority (CMA) is inviting comments by 4th January 2022 to assess the scale of any market concerns.

Both companies are leading players in the sale by auction of heavy machinery.

Canadian firm Ritchie Bros revealed in August that it had agreed to pay £775m for Euro Auctions, which was founded by Derek Keys and his brothers in Northern Ireland in 1998. The deal remains subject to approval by the competition watchdog, however

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