Filed under: Plants/Manufacturing, Ford, Jaguar, Land Rover, Earnings/Financials
Jaques Nasser still interested in Jaguar/Land Rover, schedules factory tours
Just about a year ago we reported that former Ford CEO, Jacques Nasser, was interested in possibly buying Land Rover and Jaguar. It was kind of ironic, given the fact that Nasser had been instrumental in the acquisition of LR and Volvo during his tenure at Ford. Well, it's deja vu all over again as word has spread that Nasser is set to tour those British companies in the very near future. Working under JPMorgan Chase & Co.'s One Equity Partners LLC, he is expected to meet with trade union officials while there to discuss a possible purchase. No comment from Ford yet.
One Equity is seen as a master of the quick flip, having banked a 79% gain on Polaroid when they sold it after just two years of ownership recently. We're not sure what their plans for the two marques would be, but reports seem to indicate that One Equity wants Ford to retain 30% to 50% of these firms to "ensure security of engines and parts supplies." When Ford shed Aston Martin earlier this year, Ford retained a 15% stake in the company. So Nasser sets up PAG while with Ford and might end up having a hand in it being dismantled. Interesting world.
[Source: Detroit Free Press]
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Reader Comments (Page 1 of 1)
geo.stewart 2:17PM (8/06/2007)
I wouldn't say he has a hand in dismantling it, as that is all Ford. He IS still interested in involvement with the brands, speaking to his belief about the viability of the companies as profitable units.
I always liked Nasser and felt he got a bum deal at Ford. might be wrong and he was out of touch and spreading resources too thin but thought he had the right vision.
I'd rather see him at Cerebrus than Nardelli (bad move there) and have them meld Chrysler Jag and Rover (might as well fix all three)
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JC3 2:29PM (8/06/2007)
BMW should buy JAG and sell them next to their RR's .This would enchance Jag's appeal ,give VW's Bentley a run for their money and turn BMW ,RR,and JAG into a triple threat for Mercedes(they're already creaming Maybach sales with their RR)
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phil 2:42PM (8/06/2007)
please don't let jac the knife get at these companies again...
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Lucas 4:34PM (8/06/2007)
He looks like he's been Arrakis too long.
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ItGuy 4:57PM (8/06/2007)
He F-ed up Ford with his incessent cost cutting. Jac the Knife was fitting. Basically push costs to the absolute minimum and wonder why quality and durability took a hit.
I had plenty of Fords before Jac's era - great cars. During the era, POS, after - they seem to have their stuff together.
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