Monday, July 31, 2006
Russian giant takes over LDV
Midlands van maker LDV has been sold to one of Russia’s largest automotive companys, GAZ Group.
The terms of the transaction were not disclosed by former owners Sun European Partners. The investment firm acquired LDV in December 2005 when the business was only days away from collapse.
Commenting on the new deal, Charlie Megan, acting chief executive, LDV Group, said: “We believe that GAZ will provide the necessary backing to support future development in the UK and internationally.”
DATED: 31.07.06
FEED: MT
The terms of the transaction were not disclosed by former owners Sun European Partners. The investment firm acquired LDV in December 2005 when the business was only days away from collapse.
Commenting on the new deal, Charlie Megan, acting chief executive, LDV Group, said: “We believe that GAZ will provide the necessary backing to support future development in the UK and internationally.”
DATED: 31.07.06
FEED: MT
