- Aug 25, 2006
Ford may sell Jaguar and Land Rover to Jacques Nasser
Nasser's investment group is JPMorgan Chase & Co.'s One Equity Partners LLC. The firm has a track record of turning companies around quickly and making a profit. In 2002, Nasser and the group bought Polaroid for $238 million and flipped it just last year for $426 million.
The sources cited by Bloomberg also say that regardless of Ford's current situation, the Volvo brand is not being considered for sale.
Check out the full Bloomberg article here, as it dives deep into this story by also covering the current speculation that Ford may go private, yesterday's news that JCB Chairman Sir Anthony Bamford has also expressed interest in purchasing Jaguar, and the news this morning that Robert Rubin, chairman of Citigroup, Inc., has resigned his seat on Ford's board of directors.