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Alchemy eyes $5.9bln Jaguar, Land Rover bid-report

From Reuters| June 12,2007

Private equity firm Alchemy Partners is lining up a 3 billion pound ($5.9 billion) bid for U.S. car maker Ford's luxury UK brands Jaguar and Land Rover, the City A.M. newspaper said on Monday.

"I am very interested in a bid for Land Rover and Jaguar in particular," the newspaper quoted Alchemy managing partner Jon Moulton as saying.

It said Ford had hired investment banks Goldman Sachs and Morgan Stanley to sell its Premier Automotive Group (PAG), which also includes Volvo as well as the two British-based marques.

The newspaper said other possible bidders could include France's Renault, Dave Richards, who led a Kuwati-backed consortium to buy Aston Martin from Ford in March, and David James, who bought the rights to manufacturer Smart from DaimlerChrysler.

Ford and Alchemy could not immediately be reached for comment.

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