Car Club set to be sold off

CITY Car Club looks set to be sold, with founder James Findlayson considering offers from potential buyers.

It is estimated the takeover could be worth 10 million.

Mr Findlayson is chief executive and as biggest shareholder - with a 30 per cent holding - he can sell provided he has agreement from 75 per cent of the other shareholders.

The car sharing club was founded in Edinburgh in 1998 as a city council initiative run by private companies. A number of car clubs throughout the UK merged to form the current organisation, which now covers 14 cities across the UK.