The management of Kildare bloodstock agency BBA Ireland is buying the company from its parent, British Bloodstock Agency, for €3.1 million (£2.46 million).

The management group is headed by Mr Adrian Nicholl, who is also a director of the parent company, and also includes Mr Patrick Cooper, Mr Michael Dowling, Mr Frank McNulty, Ms Caroline Wilson and Mr Declan Murray.

In the year to March 2000, BBA Ireland had operating profits of £195,000 sterling (€307,183) with net assets of £2.2 million sterling.

The sale of BBA Ireland and a British subsidiary of British Bloodstock Agency is part of a restructuring which will see the AIM-listed company taken private with the proceeds of the asset sales being distributed to shareholders.