Aug 8 (Reuters) - Asset management company Ritchie Bros (RBA.TO) said on Sunday it would acquire plant and machinery auction house Euro Auctions for an enterprise value of 775 million pounds ($1.07 billion) in cash. The transaction, which was approved by Ritchie Bros" board of directors, is expected to close in late 2021 or early 2022. ($1 = 0.7213 pounds)