[ROVERNET - UK] Ford gets bids for LandRover and Jaguar
R.Thornton at adelaidecitycouncil.com
Fri Jul 20 00:39:29 BST 2007
Following in the footsteps of the SD1. Ford are downsizing everywhere,
just announced closure of their engine plant in Australia with the loss
of 600 jobs.
From: rovernet-bounces at lyris.ccdata.com
[mailto:rovernet-bounces at lyris.ccdata.com] On Behalf Of Alan Gale
Sent: Friday, 20 July 2007 3:42 AM
To: rovernet at lyris.ccdata.com
Subject: [ROVERNET - UK] Ford gets bids for LandRover and Jaguar
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
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
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