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Report: Ford expecting up to six bids for Land Rover and Jaguar

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Report: Ford expecting up to six bids for Land Rover and Jaguar

Mark Stevens

Automotive News Europe

July 19, 2007

UPDATED: 07/19/07 5:34 A.M.

Ford Motor Co. is expecting to get up to six initial bids today to buy Jaguar and Land Rover, according to the Financial Times.

The paper said private equity companies Cerberus Capital Management, Ripplewood Holdings and One Equity Partners are planning to bid for the UK luxury car makers.

South Korean carmaker Hyundai Motor is also a potential bidder. But Renault SA and Nissan Motor Co. chose not to take part in the bidding, the paper said.

Additionally, India's Tata Motors Ltd. and Mahindra & Mahindra Ltd. are looking at bidding for the UK brands, the Economic Times reported today.

A Tata Motors spokesman declined comment on the report.

A spokesman for Mahindra said the report was speculative.

The Daily Telegraph newspaper had earlier reported that Tata Motors had instructed advisers to evaluate the merits of a joint offer for Jaguar and Land Rover, valued at about $1.5 billion.

It said that Tata Motors' evaluation was at an "exploratory" stage and may not lead to a formal bid.

Ford said last month it was working with financial advisers on the best options for the two premium brands. There have also been reports that it may sell its successful Swedish unit Volvo Cars.


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