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Old 09-18-2007, 01:00 PM
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Arrow Ford reconsidering Jaguar, Land Rover sale


Ford reconsidering Jaguar, Land Rover sale

Jaguar and Land Rover are still on the block and as bidding moves to round two it seems that parent company Ford is having second thoughts.

It is one of the showstoppers at Frankfurt this year. Jaguar's XF, which replaces the S type. The car comes at a time when the Ford group company is on the block along with Land Rover.

Like all motor shows the Ford family stayed together even though the future of the brands is uncertain under the Ford umbrella.

At Land Rover the new Freelander took centre stage and given the good sales at the British marque off late, new products are being viewed as a sign of confidence.

But which way will the bids for the stake sale go? Sources close to the development have told NDTV that strengthening sales and appeal of both the brands have led the Ford management reconsider selling the entire stake in both companies.

Ford is now leaning towards the option of selling minority stakes to PE firms. The company's board members are now keen to retain management control.

This means that both Mahindra and Tata's bids look shaky and the chances now look better for Jacques Nasser's OneEquity Partners, Ripplewood and Cerberus.

The Indian companies will also lose interest in case only a minority stake is on offer. But sources also say bankers working on the deal have advised Ford to stick with plans of a total sale as it would be the best option to raise much needed funds.

Ford is also thinking of the option of retaining a minority stake with board participation in both companies. In such a scenario Tata-Fiat and Hyundai are likely to be the front runners from the auto sphere, besides the PE players.

Ford has also confirmed that Volvo is not on the block at this time and sources in Land Rover have also shared with NDTV that Land Rover is currently studying the feasibility of adding India as a market and an entry is likely in a few months.

Source: [url=http://www.ndtvprofit.com/homepage/storybusinessnew.asp?id=40633&template=&cache=9/14/2007%209:01:35%20PM]NDTV.com[/url]
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