[ROVERNET - UK] Ford gets bids for LandRover and Jaguar

Alan Gale agale at iinet.net.au
Thu Jul 19 19:12:02 BST 2007

Press Trust of India / New Delhi July 19, 2007 
American car major Ford today said it has received bids from some companies
for acquiring its marques Jaguar and Land Rover -- the two famous brands in
which India's Tata group has been reported to be interested.
"Ford and its financial advisers have had contacts from third parties and
they are actively evaluating those as part of Ford's strategic review. These
are preliminary discussions only and no decisions have been made," Ford
spokesperson John Gardiner said in an e-mailed statement.
Asked about reports of Tata Motors being interested, he said: "I cannot
provide any guidance on names of interested parties, numbers of interested
parties, or a time-line."
In June, the company had said it was working with its financial advisors to
determine the best future for Jaguar and Land Rover.
Gardiner said the review is continuing, and that Ford is actively
investigating its options in terms of other possible actions.
"We are not ruling anything in or out," he added.
Tata Motors is reported to have made its bid for the two marquees, but a
company spokesperson had denied to comment on "market speculations".
Global private equity firms, including Cerberus Capital Management, the
investment group that purchased the Chrysler Group, and Ripplewood Holdings,
are also reported to be in race to acquire the two cult auto brands.

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