According to numerous published reports today, Ford is expected to announce within days that India's Tata Motors will be the preferred bidder for the Jaguar and Land Rover brands. Assuming this happens, look for Tata to pay Ford up to $2 billion USD for the pair of iconic British marques. As has already been reported here and elsewhere, the British labor unions have come out in support<
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 of
The New York Times is reporting that Ford is expecting to wrap up its sales of Jaguar and Land Rover by September 30, and of Volvo by the start of winter. Fresh off its shedding of the majority of Aston Martin, Ford has made the decision to rid itself of a majority of shares in the other premium brands under its corporate halo. The legal and financial people have already started working on the bidder information packets, according to Times sources.
Could Land Rover and Jaguar be headed to Russia? CNN Money is reporting that Group GAZ is showing some interest in purchasing the firms from Ford. Ford has said that it will entertain offers for the two British marques and although several names have been mentioned, this was the first we heard of GAZ being involved. GAZ has already denied the rumor, although it was pointed out that the company h