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1,120 views Oct 15, 2007

Jaguar and Land Rover sale within two months

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Despite Ford announcing last week that it was pushing back the deadline for final bids for the Jaguar and Land Rover to come in, its European boss John Fleming has revealed to a Spanish newspaper that the new owner would be known within the next two months. Ford has previously announced both labels will be sold to a single buyer by the end of the year, and these claims have now been confirmed.

Speaking with Spain’s El Mundo newspaper, Fleming revealed that talks with several bidders were “very advanced” and that “in two months at the most, we’ll know which of the groups interested in the brands will be their new owner.”

The number of parties interested in buying the British marques dropped sharply following a slump in the credit market back in August.

India’s Tata is the number one contender in the sale followed closely by private equity companies One Equity Partners and even Cerberus Capital Management.