Italy's Fiat is ready to lend technical support to Indian partner Tata in an eventual bid for Land Rover and Jaguar, the premium brands which Ford Motor is putting up for sale.
"If Tata is interested in Jaguar and Land Rover, we are ready to provide technical support," a Fiat spokesman told reporters attending the Frankfurt International Motor Show.
The spokesman clarified a comment made to reporters earlier in the day by Fiat Chief Executive Sergio Marchionne during a tour of the exhibits set up by the automaker's various brands.
In response to a question about Fiat's interest in Land Rover and Jaguar through a Tata bid for them, Marchionne had joked: "For completely different reasons, we are interested in both." Last weekend, Fiat Chairman Luca Cordero di Montezemolo had told reporters that the Italian automaker was not interested in the two British-based brands.
Tata, a major partner for Fiat in India where they both make cars and engines, would be one of several potential bidders for the two brands. A source familiar with the matter has told media that India's Mahindra & Mahindra Ltd and US buyout firms TPG and Ripplewood have expressed interest.
Ford plans to have more details on the sale of Jaguar and Land Rover by the end of 2007 or early 2008.
(source: Economic Times)
Showing posts with label Jaguar. Show all posts
Showing posts with label Jaguar. Show all posts
Friday, September 14, 2007
Thursday, July 19, 2007
Tata, M&M may bid for Jaguar & Land Rover
Tata Motors, India’s biggest automobile company, and tractor and utility vehicle major Mahindra & Mahindra are understood to be exploring the possibility of bidding for Jaguar and Land Rover, owned by the Ford Motor Company. The deal size is being estimated at about $1.5 billion (£735 million) for the two-storied brands that epitomise the British automobile industry.
Industry analysts said that the Tatas may finance the bid in conjunction with Fiat, which has the Ferrari and Alfa Romeo brands in its portfolio. The two automobile majors recently entered into an alliance to jointly market and manufacture Fiat models in India.
According to sources in the auto industry, the bids are due soon and both Indian players see considerable value in these cult luxe marques. However no final decision has been made by either player. Sources also say that Tata Motors may also be looking to team up with private equity players for the deal, apart from the possibility of bidding with Fiat. Indeed the Tata-Fiat combine could even team up with a private equity player, though there is no confirmation of this.
As for M&M, its real interest is in Land Rover, say analysts, but since the two brands are being offered as a package deal, it is looking at a combined bid. Although there is no confirmation on the size of the deal, international media is pegging it at around $1.5 billion, significantly more than the $848 million that the Dearborn (Michigan)-based Ford got for its other British bespoke brand Aston Martin this March.
(Source: Economic Times )
Industry analysts said that the Tatas may finance the bid in conjunction with Fiat, which has the Ferrari and Alfa Romeo brands in its portfolio. The two automobile majors recently entered into an alliance to jointly market and manufacture Fiat models in India.
According to sources in the auto industry, the bids are due soon and both Indian players see considerable value in these cult luxe marques. However no final decision has been made by either player. Sources also say that Tata Motors may also be looking to team up with private equity players for the deal, apart from the possibility of bidding with Fiat. Indeed the Tata-Fiat combine could even team up with a private equity player, though there is no confirmation of this.
As for M&M, its real interest is in Land Rover, say analysts, but since the two brands are being offered as a package deal, it is looking at a combined bid. Although there is no confirmation on the size of the deal, international media is pegging it at around $1.5 billion, significantly more than the $848 million that the Dearborn (Michigan)-based Ford got for its other British bespoke brand Aston Martin this March.
(Source: Economic Times )
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