Home
/ International News / News detail
Ford could announce Jaguar, Land Rover sales soon
DETROIT (Reuters) -- Ford Motor Co CEO Alan Mulally said on Monday that the automaker could announce the sale of its premium British brands Jaguar and Land Rover by the end of the year.
"We will probably have something to announce by the end of this year, toward the first part of next year," Mulally told reporters at a ceremony marking the formal signing of the four-year labor contract reached last month with the UAW.
Ford has narrowed the auction of Jaguar and Land Rover to three bids. The remaining bidders include Indian carmaker Tata Motors and rival Mahindra & Mahindra which has teamed up with buyout firm Apollo.
The U.S. automaker has been exploring a sale of the brands since June. The brands have been valued by a Merrill Lynch analyst at as much as $1.5 billion combined.
"We will probably have something to announce by the end of this year, toward the first part of next year," Mulally told reporters at a ceremony marking the formal signing of the four-year labor contract reached last month with the UAW.
Ford has narrowed the auction of Jaguar and Land Rover to three bids. The remaining bidders include Indian carmaker Tata Motors and rival Mahindra & Mahindra which has teamed up with buyout firm Apollo.
The U.S. automaker has been exploring a sale of the brands since June. The brands have been valued by a Merrill Lynch analyst at as much as $1.5 billion combined.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com
