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.
[Source: MSNBC]
Reader Comments (Page 1 of 1)
Don 3:09PM (7/02/2007)
I guess they want investments for when the oil runs out.
Reply
sledge 3:41PM (7/02/2007)
@PacMan - I am sure I am not alone in saying that I would like to see this blog stay as non-political as possible. However, if you do have to say something at least take the time to read once in a while. I know this might be real news to you, but you can actually find information besides cars and p0rn on the the internet!
Dubai and Abu Dhabi are part of the United Arab Emirates, arguably the most pro-western government in the Middle East and one of the US' closest allies in the region. Oh yeah and FYI I believe Mubadala also has a stake in Ferrari.
Reply
PacMan 3:48PM (7/02/2007)
@ sledge
You are correct and nothing you stated will be refuted. However, the earlier *sarcastic*tag line is still funny, although maybe not to the overly sensitive amoung us.
71 out 72 Virgins agree: Jaguars are sweet!
Reply
miktal 4:08PM (7/02/2007)
I feel like Ford is going to have to sell it sooner or later, but I don't know if an investment firm is the way to go, I'd rather see it go to another car company so they can finish the good things that Ford has started with these companies.
And Pac-Man, that line was not funny, it was really easy and obvious. As was your follow-up (which was less funy and contained a spelling mistake). If you want to post joke messages they should at least be funny, and hopefully informed.
Reply
Oliver 4:48PM (7/02/2007)
to pac-man ....Look where 231 years of ethno-centricity has gotten us. The United States is now one of the most disliked countries in the world. Comments like yours do nothing to promote progress.
Live and let live.
Oliver
Reply
Rash 7:09PM (7/02/2007)
What was so funny about what PacMan said? Seriously I don't get it.
Reply
AMGoff 11:05PM (7/02/2007)
I chuckled... but then again I've been branded a xenophobe because I prefer American cars and choose to support the American auto industry.
People need to lighten up... it's not off-colored jokes that have tarnished our reputation in the world but our blatant and abusive projections of power in areas we need not be.
Reply
up yours 12:13PM (7/03/2007)
Sledge and Oliver, stop being so politically correct, that is not democratic, it is more left wing communist.
Reply