Friday, August 25, 2006
BMW mum on Rover name deal
BMW has agreed to sell the Rover brand for an undisclosed sum to an unnamed buyer.
It was reported last week that Shanghai Automotive Industry Company was poised to buy the brand name from the German car maker after agreeing to pay more than £11m for the name which would complete the Chinese car maker’s takeover of the failed British marque.
SAIC owns the design rights to two Rover models including the BMW-designed and engineered Rover 75. A spokesman for BMW said that Ford still had first refusal on the deal and had less than three months to stop it from going through.
DATED: 25.08.06
FEED: MT
It was reported last week that Shanghai Automotive Industry Company was poised to buy the brand name from the German car maker after agreeing to pay more than £11m for the name which would complete the Chinese car maker’s takeover of the failed British marque.
SAIC owns the design rights to two Rover models including the BMW-designed and engineered Rover 75. A spokesman for BMW said that Ford still had first refusal on the deal and had less than three months to stop it from going through.
DATED: 25.08.06
FEED: MT
