Ford anticipates bids for brands

Source: Manufacturing Digital

Date :15/10/2007 10:31:35

Ford expects to sell its Jaguar and Land Rover UK premium brands in the next two months.

According to head of Ford Europe, John Fleming, the carmaker does not expect to sell the brands separately “as they are both very integrated.”

He also said Ford was still in the process of a strategic review of what it should do with Swedish brand Volvo.

"Volvo is a fundamental partner in the development of safety and environmental technology. It would be very dangerous to hand it over to a competitor," he said.

Potential bids

The Dearborn–based Ford has been exploring the possible sale of Land Rover and Jaguar since June as it continues the strategic review of its global operations.

It is believed that bids for the luxury brands could land around the end of October or the beginning of November.

“We are well on and in two months at the most we'll know which of the groups interested in the brands will be their new owner,” Fleming said.

Potential bidders include buyout firms One Equity Partners, Ripplewood, Terra Firma and TPG, as well as Indian carmaker Tata Motors.

Ford sold Aston Martin in March.

October 15 2007

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