Fleet News

BCC carries on amid NatWest takeover talks

BRITISH Car Contracts is insisting it is 'business as usual' despite speculation over its future ownership amid rival bids for NatWest, owner of its parent company Lombard North Central. Two major banks, The Bank of Scotland and the Royal Bank of Scotland, are pitted against each other to buy out NatWest.

If The Bank of Scotland is successful, it would certainly raise questions about where BCC would stand in the portfolio, as it already owns Capital Bank Vehicle Management, First Mutual Contracts and Godfrey Davis. Meanwhile the Royal Bank of Scotland, which has a division called RoyScot Trust, providing vehicle finance for businesses but not contract hire, says as part of its purchase plans it would sell off parts of the company, although the divisions targeted have not been named.

This week a spokesman for BCC dismissed as speculation any rumours on the future of the company, adding: 'As far as we and our customers are concerned, this is business as usual.' Lombard North Central, the NatWest subsidiary which owns BCC, sold a controlling interest in Lex Vehicle Leasing to Lex Service last year so it could concentrate on expanding the BCC business.

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