The information comes from a source familiar with the talks who spoke recently with Automotive News. According to the source, Ford has hired investments banks Goldman Sachs and Morgan Stanley to oversee the sale of the Jaguar, Land Rover and Volvo brands but the talks which began with Fiat back in February have come been called off.
Fiat reportedly called off the talks because of fears of tarnishing its credit rating. Fiat was interested in Land Rover and its dealer network because the Italian carmaker still doesn’t have an SUV model within its five brands. The source also mentioned that the interest in Jaguar was for access to its rear-drive platforms and its V6 and V8 powertrains.
Ford CEO Allan Mullaly has previously stated that there are no immediate plans to sell anymore PAG brands, but explained that Ford is accessing all possibilities, however, the same thing was said about Aston Martin in the months prior to its sale.