The offers Ford received for Jaguar and Land Rover

Posted on Sunday, 4 November 2007 , 09:11:09 byEmil

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The offers Ford received for Jaguar and Land Rover

Ford will receive five buyout offers at least for its Land Rover and Jaguar divisions in the next days. Then it will narrow down to about two or three suitors and start a last round of bidding, which a spokesman from Ford said will be conclusive by the end of this year.

`We are still looking at the end of this year or the beginning of next to conclude the process` a Ford spokesman reported to the Reuters news agency. `We have been very impressed with the quantity and quality of bids made for the Jaguar-Land Rover business`.

India`s Tata Motors, Ripplewood, One Equity, TPG and Terra Firma will also make bids. Cerberus Capital — the owner of Chrysler — it seems that has dropped out from the bidding. Also, Ford sold its Aston Martin department earlier this year.