Ford may be selling its Range Rover and Jaguar divisions

UCrewX5 · #1 08-06-2006, 05:21 PM

http://news.yahoo.com/s//nm/20060806.../autos_ford_dc

Quote:

LONDON (Reuters) - Automaker Ford Motor (NYSE:F - news) may sell Land Rover, a maker of four-wheel-drive vehicles, along with Jaguar, as part of a shake-up of its British brands, The Sunday Times newspaper reported.

The newspaper said it was understood that Ford's senior management, led by Chairman and chief Executive Bill Ford Jr., was considering packaging the two marques together and selling a majority stake to a financial investor.

The paper said banking sources had also said, however, that it was still not certain that Ford would part company with Jaguar and that there was a chance it would be retained, but with reduced production and a concentration on exclusive luxury sports cars.

Ford officials in London and Detroit could not be immediately reached for comment on Sunday.

The Sunday Times said Bill Ford had told staff in a memo last week that adviser Kenneth Leet would explore strategic options. It added, however, that its sources in Detroit pointed out that Leet's expertise was in mergers and acquisitions, making it more likely Ford would look to sell assets, including Jaguar.

Ford said last week that no decisions on disposals had been taken.
Bill Ford told Reuters in an interview on July 20 that money-losing Jaguar, which it bought in 1989, would take time to turn around, but he was considering all options for the brand.