Guy
Hands' buyout firm Terra Firma reportedly has shown interest in Ford Motor
Co.'s sale of British marques Jaguar and Land Rover,
reported
the Financial Times.
Despite the credit crunch, the British firm is the sixth private equity firm
to supposedly kick the tires of the luxury car makers. Other rumored bidders
include Cerberus Capital Management LP, TPG, Ripplewood Holdings LLC, Apollo
Management LP and One Equity Partners. Cerberus, the owner of Chrysler LLC,
reportedly
withdrew its interest.
Meanwhile, the inclusion of One Equity and Ripplewood is no surprise because
they are perennial favorites when auto assets are on the block. One Equity
reportedly had participated in Ford's auction of Aston Martin last year, and
Ripplewood supposedly had fielded a bid for Chrysler. Both reportedly have
enlisted the help of former Ford executives.
Surprisingly,
the
only strategic bidder reported to remain interested in Jaguar and Land
Rover is India's Tata Motors Ltd. — Matthew Wurtzel
See story from the Financial Times (subscription may be required)
See story from TheDeal.com
See profile from Auction Block (subscription required)
See related post about Tata from Dealscape
See related post about Ford sales from Dealscape
See related post about One Equity from Dealscape
See related post about Ripplewood from Dealscape
See Ford Dealwatch
Tags: Ford, corporate restructuring, automobiles
Continue reading below
