According to the New York Times, Ford hopes to have a tentative deal to sell Jaguar and Land Rover by September 30th. Morgan Stanley has said that the deal could rake in anywhere from $4 billion to $7 billion into Ford”s bank account. Citigroup, on the other hand, believes that Ford could fetch $8 billion from the deal.
Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.
So who are the interested parties?
According to Automotive News, these parties have indicated preliminary interest to Ford:
– Tata Group: an Indian automaker and conglomerate.
– Mahindra & Mahindra: another Indian automaker.
– Fiat group of Italy: which already owns luxury brands Maserati, Alfa Romeo and Ferrari.
– Cerberus Capital Management: which now owns 80.1 percent of Chrysler.
– One Equity Partners: a private equity firm where Jacques Nasser, former CEO of Ford Motor, is a managing director.
– Ripplewood Holdings: a private equity firm where Tom Stallkamp, former president of Chrysler, is an industrial partner.
– Texas Pacific Group, another private equity firm.
We’ll see what happens as Sept 30th rolls around.
Source: Automotive News
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Jaguar, Land, Rover, Ford[/tags]