Wednesday, August 08, 2007
Ex-Ford chief in bid to buy Jaguar and Land Rover
Former Ford Motor Company boss Jacques Nasser is to fly to Britain to visit the Jaguar and Land Rover factories as part of his bid to buy the up-for-sale brands. Mr Nasser, who bought Land Rover for Ford seven years ago when he was in the blue oval's driving seat, is expected to woo trade unions on his visit to the UK to gain support for his bid with One Equity Partners, the private equity firm owned by JP Morgan Chase.
Union leaders have urged the Government to block any sale to a private equity bid, fearful that such a move could lead to widespread job losses.
Meanwhile, the New York Times has reported that Ford's advisers had begun preparing information for bidders for Land Rover and Jaguar, and that the company hoped to have a tentative deal to sell the two British brands by September 30.
DATED: 08.08.07
FEED: AW
Union leaders have urged the Government to block any sale to a private equity bid, fearful that such a move could lead to widespread job losses.
Meanwhile, the New York Times has reported that Ford's advisers had begun preparing information for bidders for Land Rover and Jaguar, and that the company hoped to have a tentative deal to sell the two British brands by September 30.
DATED: 08.08.07
FEED: AW
