Ford looking to sell Jaguar and Land Rover

After the sale of Aston Martin, many analysts have been wondering what company Ford will sell next in order to recover from its $12.5 billion loss in 2006 and continuous slow sales. Well, according to Automotive News, Ford is now actively seeking buyers for Volvo, Jaguar and Land Rover.

Back in May, it was reported that Ford was talking to BMW for a potential sale of its Volvo group. The report was later denied by Ford itself.

Current reports say that Ford was in talks with Fiat over a possible sale of Jaguar and Land Rover. The talks which started in February, ended late last month due to Fiat’s concern over its credit rating.

Sources now say that Ford has officially hired Goldman Sachs and Morgan Stanley to take the three premium companies off of its hands for cash payment.

Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.

 

Source: Automotive News

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