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July 19 deadline for Jaguar and Land Rover bidders

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July 19 deadline for Jaguar and Land Rover bidders

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Potential bidders for the Jaguar and Land Rover labels have only until July 19 to submit their offers. Analysts are predicting that both brands will be sold as a single unit and that a final buyer could be announced in Ford’s second-quarter figures due by the end of the month, reports The Times.

Potential bidders are rumored to include private-equity groups Cerberus, Blackstone and One Equity, the latter with former Ford CEO Jac Nasser in its ranks. According to sources close to the deal, the final sale is still some time away despite next week’s deadline.

To protect staff, unions have release demands for any sale agreement including maintaining production at three UK plants for the next five years, a long-term commitment for R&D at the Gaydon and Whitley sites, and a 10-year contract for Ford’s UK plants to engines and castings.

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Comment (1)

By Logic Posted: 7/8/2007 11:21pm PDT

Finally, Ford plans to sell Jaguar. The company has cost Ford abour $50 billion and never posted a profit! However, I wouldn't be surprised to see them become instantly profitable after the sale. Just like Fiat turned things around a few months after GM let them go. Fiat hadn't seen a profit in over a decade and now they are one of the (according to the bias press) hottest product on the market.

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