Middle-East investment funds vying for Jaguar and Land Rover
The latest companies tipped to be interested in buying Jaguar and Land Rover from Ford is Middle-Eastern investment funds Dubai International Capital and Abu Dhabi's Mubadala Development Company (MDC). According to the UK's Observer newspaper, both investment funds have ordered financial advisers to prepare a proposal for one or both of the carmakers. An official from MDC has since denied the claims, and there's still no word from the other investment firm or Ford.
The report also claimed that the deal could be worth up to $6 billion and that British unions would prefer the investments funds to take over rather than private equity groups because of fears of job security. It was revealed earlier that private equity firms Cerberus, Blackstone and Bank One Corporation were also interested in the sale, the latter with former Ford CEO Jacques Nasser as a senior partner.
Just last week, Ford's president for the Americas Mark Fields told reporters that Ford was "continuing to evaluate everything" in regards to the impending sale, which means it's likely to become a very drawn out affair.
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