Ford Shopping Land Rover And Jaguar For Cash? [Archive] - Ford Inside News Community

: Ford Shopping Land Rover And Jaguar For Cash?


1931Chevy
06-10-2007, 09:18 PM
http://jalopnik.com/cars/industry-news/ford-shopping-land-rover-and-jaguar-for-cash-267545.php
With Aston Martin obviously having already been sold off to private equity, Automotive News Europe is reporting FoMoCo's hired Goldman Sachs and Morgan Stanley to shop around what's left of the Premier Automotive Group. Although FoMoCo's not commenting on the story, ANE's saying FoMoCo's talked to BMW about Volvo earlier this year. But as FoMoCo's said recently they're not in the process of selling the brand all about the meatballs, one can only assume the BMW gambit didn't work. If that's the case, maybe it's the reason why Ford's reportedly now talking to Fiat about a purchase agreement of Jaguar and Land Rover. The rest of the report claims Fiat CEO Sergio Marchionne ended discussions with Lewis Booth of PAG primarily because owning Jaguar and Land Rover would adversely effect Fiat's credit rating. But my guess is FoMoCo's still got Goldman and Morgan Stanley on hand to try selling off the remainder of the PAG because there's something they need more than Euro luxe brands -- cash. Hey, anyone happen to know what happened to that $18 billion

SobeSVT
06-10-2007, 10:49 PM
Isn't this the most overplayed rumor in the history of rumors?

2b2
06-10-2007, 10:53 PM
Money.CNN.com (http://money.cnn.com/news/newsfeeds/articles/djf500/200706091722DOWJONESDJONLINE000443_FORTUNE5.htm)
Ford Hires Morgan Stanley, Goldman Sachs To Sell Brands-Report
June 09, 2007: 05:22 PM EST

DETROIT -(Dow Jones)- Ford Motor Co. (F) has hired Goldman Sachs Group (GS) and Morgan
Stanley (MS) to shop the struggling auto maker's Premier Automotive Group European luxury brands,
according to an advance copy of an Automotive News Europe story that cites unnamed sources.

SobeSVT
06-10-2007, 11:04 PM
Money.CNN.com (http://money.cnn.com/news/newsfeeds/articles/djf500/200706091722DOWJONESDJONLINE000443_FORTUNE5.htm)
Ford Hires Morgan Stanley, Goldman Sachs To Sell Brands-Report
June 09, 2007: 05:22 PM EST

DETROIT -(Dow Jones)- Ford Motor Co. (F) has hired Goldman Sachs Group (GS) and Morgan
Stanley (MS) to shop the struggling auto maker's Premier Automotive Group European luxury brands,
according to an advance copy of an Automotive News Europe story that cites unnamed sources.
Ford is not comenting and ANE is not naming their sources, probably the same ones that feed the Volvo rumor when it was a dead deal . . . I have to admit that getting rid of Jaguar and LR makes more sense than getting rid of Volvo. Still, in this one I am taking the franciscan approach, see to believe.

1931Chevy
06-10-2007, 11:17 PM
I have been one of the voices asking Ford to get rid of Jaguar in the past, but watching the new products Jag will receive in the coming years and the good work they had done with Land Rover they should give Jag one more opportunity and keep giving new products to Land Rover

megeebee
06-11-2007, 03:28 AM
Sorry folks, but it's official. Automotive News reports this morning that Alchemy Partners, a London based private equity firm, is planning a bid of 5.9 Billion US dollars for PAG. I did not read any reference to Volvo, though. Only Jaguar and Land Rover. Will post article soon.


www.autonews.com
subscription

1931Chevy
06-11-2007, 10:21 AM
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com: 20070611:MTFH91473_2007-06-11_12-13-00_L11192758&type=comktNews&rpc=44
Alchemy not pursuing bid for Ford luxury brands
LONDON, June 11 (Reuters) - UK private equity firm Alchemy Partners said on Monday it is not pursuing a bid for Ford Motor Co.'s (F.N: Quote, Profile , Research) Jaguar and Land Rover brands and is interested in them "only at an emotional level".

A report in London's City AM newspaper said Alchemy was preparing a 3 billion pound ($5.9 billion) bid for Ford's luxury brands and quoted Alchemy managing partner Jon Moulton saying he was very interested in a bid.

An Alchemy spokeswoman said on behalf of Moulton, however, that the firm had not held any talks and "is not working on it".

http://biz.yahoo.com/rb/070611/renault_jaguar.html?.v=4
Renault denies interested in Jaguar, Land Rover

PARIS (Reuters) - French carmaker Renault (Paris:RENA.PA - News) on Monday denied a British media report that said it was a possible bidder for Ford's (NYSE:F - News) luxury UK car brands Jaguar and Land Rover.
"Of course we absolutely do not confirm this information," a Renault spokesman said. "(Chief Executive) Carlos Ghosn said last week that the acquisition of a luxury brand would bring nothing to Renault or the Nissan alliance, in the short term," he said.

He was commenting following a report in London's City A.M. newspaper on Monday that said private equity firm Alchemy Partners was lining up a 3 billion-pound ($5.9 billion) bid for Land Rover and Jaguar and other possible bidders included Renault.

1931Chevy
06-11-2007, 10:24 AM
Sorry folks, but it's official. Automotive News reports this morning that Alchemy Partners, a London based private equity firm, is planning a bid of 5.9 Billion US dollars for PAG. I did not read any reference to Volvo, though. Only Jaguar and Land Rover. Will post article soon.


www.autonews.com
subscription
It looks like Volvo is safe
http://us.ft.com/ftgateway/superpage.ft?news_id=fto061120070732159624&referrer_id=yahoofinance
Ford hires banks to sell Jaguar, Land Rover

By John Reed in London
Monday Jun 11 2007 07:20
Ford Motor (NYSE:F) has given Goldman Sachs (NYSE:GS) , Morgan Stanley (AMEX:MWD) and HSBC a mandate to sell Jaguar and Land Rover, its two British luxury brands.

The planned sale does not include Volvo, Ford's third premium marque, and is said to be in its early stages.

The news follows persistent speculation that Ford, which sold the Aston Martin sports car marque to a Kuwaiti-led consortium in March, might look to unload the two brands as part of its drive to create a more streamlined and competitive volume car business.

SobeSVT
06-11-2007, 10:25 AM
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com: 20070611:MTFH91473_2007-06-11_12-13-00_L11192758&type=comktNews&rpc=44
Alchemy not pursuing bid for Ford luxury brands
LONDON, June 11 (Reuters) - UK private equity firm Alchemy Partners said on Monday it is not pursuing a bid for Ford Motor Co.'s (F.N: Quote, Profile , Research) Jaguar and Land Rover brands and is interested in them "only at an emotional level".

A report in London's City AM newspaper said Alchemy was preparing a 3 billion pound ($5.9 billion) bid for Ford's luxury brands and quoted Alchemy managing partner Jon Moulton saying he was very interested in a bid.

An Alchemy spokeswoman said on behalf of Moulton, however, that the firm had not held any talks and "is not working on it".

http://biz.yahoo.com/rb/070611/renault_jaguar.html?.v=4
Renault denies interested in Jaguar, Land Rover

PARIS (Reuters) - French carmaker Renault (Paris:RENA.PA - News) on Monday denied a British media report that said it was a possible bidder for Ford's (NYSE:F - News) luxury UK car brands Jaguar and Land Rover.
"Of course we absolutely do not confirm this information," a Renault spokesman said. "(Chief Executive) Carlos Ghosn said last week that the acquisition of a luxury brand would bring nothing to Renault or the Nissan alliance, in the short term," he said.

He was commenting following a report in London's City A.M. newspaper on Monday that said private equity firm Alchemy Partners was lining up a 3 billion-pound ($5.9 billion) bid for Land Rover and Jaguar and other possible bidders included Renault.
AN wrong . . . for a change!

megeebee
06-11-2007, 11:56 AM
Here's the Auto News article:





Sources: Ford's PAG brands are on the block
Fiat pursued Jaguar, Land Rover, then broke off talks


Luca Ciferri

Automotive News | 1:00 am, June 11, 2007




TURIN, Italy -- Ford Motor Co. is actively seeking buyers for its European luxury brands.

A possible sale of Jaguar and Land Rover to Fiat was on the table for months, say sources familiar with the talks.

The two automakers recently called off the talks.

Meanwhile, sources say Ford has hired two investment banks, Goldman Sachs and Morgan Stanley, to pursue the sale of the three Premier Automotive Group brands -- Jaguar, Land Rover and Volvo.

BMW reportedly considered acquiring Volvo earlier this year. In March, Ford sold a fourth PAG brand, Aston Martin.

Ford's talks with Fiat started in February and ended late last month. They involved Fiat group CEO Sergio Marchionne and Ford of Europe boss Lewis Booth, who also heads Premier Automotive Group.

Neither Ford nor Fiat would confirm the talks.

"Ford Motor Company is continuing to assess a number of strategic options for all of its operations," said Ford spokesman John Gardiner. "We're not specifying what they are and what we're evaluating."

The sources say Fiat halted discussions with Ford because of concern over the potential adverse effect of the acquisition on the Italian carmaker's credit rating.

In March, Ford sold most of Aston Martin for $956 million to a Kuwaiti holding company and David Richards, the former Benetton and British American Racing chief.





Talks foundered, so Jaguar's XKR Portfolio won't become part of the Fiat fold.


Ford CEO Alan Mulally has said he's keeping Jaguar and Land Rover for now. But that doesn't preclude selling any of the PAG brands. Mulally and Executive Chairman Bill Ford say the company is keeping all options open as it tries to turn around its struggling business. Last year, Ford Motor lost $12.6 billion.

Ford does not disclose results for its individual brands. All together, its PAG lineup lost $327 million before taxes in 2006. But after losing money for three years, PAG may be back in the black in 2007.

In the first quarter, the group reported a pretax profit of $402 million, up from $152 million in the first quarter of 2006.

Blame Jaguar for most of the red ink in past years. Ford sources say the British brand has lost $500 million to $1 billion a year since 2001. Jaguar executives say the unit is likely to lose money in 2007 and 2008 as well.

Ford declined to say if Jaguar was profitable in the first quarter. But the company says that all of the PAG brands improved their financial performance in the quarter, with Land Rover showing the biggest gain.

Increasing global SUV sales inspired Fiat's interest in Land Rover.

"Land Rover is a brand many carmakers would love to add to their portfolios - particularly Fiat group, whose five brands are still almost nonexistent in the growing global SUV market," a Turin source said.

He said Fiat was especially interested in Land Rover's U.S. dealership network. The Italian automaker plans to relaunch its Alfa Romeo brand in the United States in 2009, but Alfa's dealership network plans are uncertain.

"Alfa's sporty sedans, coupes and the Spider could have been a perfect fit in the Land Rover U.S. dealer environment," a supplier source said.

The source said Fiat considered Jaguar mainly for its access to rear-drive platforms and its high-tech V-6 and V-8 engines.

www.autonews.com
Subscription


EDIT: AN RETRACTED THE PREVIOUS ALCHEMY PARTNERS STORY.

2b2
06-11-2007, 05:17 PM
In other NewsruMors...

The speculation that Kervorkian (symbol: BYE) was gonna buy Jaguar
turns out that his neighbor is thinking about leasing A Jaguar...
No, even the rumor wasn't about Kerkorian (symbol: BUY)

and the furor about MkF (symbol: MkF) selling off his extensive wardrobe
actually was 'based' on his wife giving an old pair of his shoes to Goodwill...
neither MkF, his wife (nor any of his shoes) were available for comment.

THE PRICE OF GAS SOARS TO $215.13 PER GALLON
WHILE OIL DROPS TO $6.59 A BARREL
turns out to be meerly .typpos
this was promptly blamed on Microsoft (symbol: Mor$) who's stock quickly fell 666%

and
Reports that an infamous postwhore (symbol: 2b2) is purchasing Mercury
stem from an overheard conversation during which he counted the change in his pocket...
At a news conference late yesterday he remarked, "I didn't have enough to buy anything."
nonetheless
shares of MercuThometer, an unrelated-to-anyone medical supply company (symbol: !) rose 98.6 points

ndwariga
06-11-2007, 05:26 PM
In other NewsruMors...

The speculation that Kervorkian (symbol: BYE) was gonna buy Jaguar
turns out that his neighbor is thinking about leasing A Jaguar...
No, even the rumor wasn't about Kerkorian (symbol: BUY)

and the furor about MkF (symbol: MkF) selling off his extensive wardrobe
actually was 'based' on his wife giving an old pair of his shoes to Goodwill...
neither MkF, his wife (nor any of his shoes) were available for comment.

THE PRICE OF GAS SOARS TO $215.13 PER GALLON
WHILE OIL DROPS TO $6.59 A BARREL
turns out to be meerly .typpos
this was promptly blamed on Microsoft (symbol: Mor$) who's stock quickly fell 666%

and
Reports that an infamous postwhore (symbol: 2b2) is purchasing Mercury
stem from an overheard conversation during which he counted the change in his pocket...
At a news conference late yesterday he remarked, "I didn't have enough to buy anything."
nonetheless
shares of MercuThometer, an unrelated-to-anyone medical supply company (symbol: !) rose 98.6 points:cool: you lost me there

SobeSVT
06-11-2007, 05:48 PM
In other NewsruMors...

The speculation that Kervorkian (symbol: BYE) was gonna buy Jaguar
turns out that his neighbor is thinking about leasing A Jaguar...
No, even the rumor wasn't about Kerkorian (symbol: BUY)

and the furor about MkF (symbol: MkF) selling off his extensive wardrobe
actually was 'based' on his wife giving an old pair of his shoes to Goodwill...
neither MkF, his wife (nor any of his shoes) were available for comment.

THE PRICE OF GAS SOARS TO $215.13 PER GALLON
WHILE OIL DROPS TO $6.59 A BARREL
turns out to be meerly .typpos
this was promptly blamed on Microsoft (symbol: Mor$) who's stock quickly fell 666%

and
Reports that an infamous postwhore (symbol: 2b2) is purchasing Mercury
stem from an overheard conversation during which he counted the change in his pocket...
At a news conference late yesterday he remarked, "I didn't have enough to buy anything."
nonetheless
shares of MercuThometer, an unrelated-to-anyone medical supply company (symbol: !) rose 98.6 points
Actually I heard that Kevorkian got Kerkorian a pet goat for his birthday. Kerkorian named it Jaguar, but later gave it up to the Humane Society in Vegas with his dog Rover. Automotive News is writing a piece about this as we speak . . . I mean, write and read . . . this. I heard.