Auto industry veteran Dover joins potential bidders for Jaguar/Land Rover
James Franey
Automotive News Europe | September 6, 2007 -- 16:53 CET
UK auto industry veteran Bob Dover is helping U.S. investment firm TPG to prepare a possible bid for Jaguar and Land Rover.
Dover was CEO of the two British brands between 2002 and 2003.
A company source confirmed to Automotive News Europe that Dover is part of a TPG team carrying out due diligence on the brands.
Owner Ford Motor is considering selling Jaguar Land Rover because CEO Alan Mulally wants to focus on fixing its loss-making North American operations. The U.S. automaker lost $12.7 billion globally last year.
TPG, formerly Texas Pacific Group, is one of the world’s biggest private equity firms. Its previous deals include the purchase of Burger King, Midwest Airlines and Ducati, the Italian motorcycle company.
A number of other bidders are reported to be interested in buying Jaguar and Land Rover. They include other private equity groups and the Indian automakers Tata Motors and Mahindra & Mahindra.
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James Franey
Automotive News Europe | September 6, 2007 -- 16:53 CET
UK auto industry veteran Bob Dover is helping U.S. investment firm TPG to prepare a possible bid for Jaguar and Land Rover.
Dover was CEO of the two British brands between 2002 and 2003.
A company source confirmed to Automotive News Europe that Dover is part of a TPG team carrying out due diligence on the brands.
Owner Ford Motor is considering selling Jaguar Land Rover because CEO Alan Mulally wants to focus on fixing its loss-making North American operations. The U.S. automaker lost $12.7 billion globally last year.
TPG, formerly Texas Pacific Group, is one of the world’s biggest private equity firms. Its previous deals include the purchase of Burger King, Midwest Airlines and Ducati, the Italian motorcycle company.
A number of other bidders are reported to be interested in buying Jaguar and Land Rover. They include other private equity groups and the Indian automakers Tata Motors and Mahindra & Mahindra.
www.autonews.com
Subscription