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Monday, 11 Jun 2007 09:45
Luxury car brands Land Rover and Jaguar may be the target of a £3 billion takeover attempt.
UK-based private equity firm Alchemy Partners (AP) is reported to be preparing the bid by the City AM newspaper, which quotes managing partner Jon Moulton as expressing interest in the Ford Motor subsidiary.
The American manufacturing giant is looking to sell its Premier Automotive group and AP may be in the market to acquire the marques.
"I am very interested in a bid for Land Rover and Jaguar in particular," Mr Moulton was quoted as saying.
"The quality of the Jaguar and the Land Rover product has improved in recent years. What is needed now is to produce lower volumes of the cars to make the business a success," he added.
AP joins a crowded field, however. Rival parties cited as being interested in Land Rover and Jaguar include French firm Renault and businessmen David Richards and David James, who have a track record of previous purchase activity in the car manufacturing sector.
Ford Motor is currently undergoing a major restructuring as years of negative profits take their toll. It posted its worst annual results – a £6.3 billion loss – in January.
Source:
http://www.inthenews.co.uk/money/emplyoment/manufacturing/
land-rover-and-jaguar-targeted-by-uk-firm-$1097708.htm
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