KPMG 'helping Ford sell Jaguar'
London, June 25, 2007
Ford has hired accountancy giant KPMG to go over the books at its Jaguar and Land Rover subsidiaries, says a report.
If the Sunday Times article is confirmed, it would show that Ford is moving ahead with plans to sell the two UK-based units.
Although Ford has yet to confirm it intends to sell Jaguar and Land Rover, the BBC reported earlier this month that it had already briefed MPs on the move.
Both firms have declined to comment on the latest story.
Ford has so far said it has been studying the future of Jaguar and Land Rover for a year, and that it was neither setting a timeframe for any decision, nor ruling out any options.
Union leaders have voiced concerns about possible redundancies at the two units should their sale go ahead.
Jaguar has about 10,000 staff at sites in Coventry, Birmingham and Liverpool, while Land Rover employs about 9,000 in the West Midlands and Warwickshire.
Ford, which has been selling assets in a bid to offset falling sales and profits, earlier this year sold Aston Martin.
Analysts say that the sale of Jaguar and Land Rover could raise as much as $1.5 billion (£750 million).
More Motoring Stories
- Toyota holds body and paint contest in Bahrain
- 330 tonnes of specialist racing cargo for Bahrain
- Automatic licence holders 'can't drive manual cars in Qatar'
- Jaguar Land Rover wins advertising award
- Rolls-Royce to buy key Daimler stake
- Nissan develops ‘smart rearview mirror’
- Dubai Taxi to offer Wi-Fi Internet in cabs
- Infiniti unveils new engine for Q50 Eau Rouge
- Bentley to debut Continental GT Speed at Geneva
- 17 die on Saudi roads daily
- Gargash to build showrooms for China automaker
- Jaguar to launch new sports sedan
- Jaguar Land Rover launches pre-owned programme
- Nissan Patrol sales hit top gear in Jan
- Al-Futtaim wins control of Kenya motor firm
- Dubai RTA, vehicle mortgagers improve service
- Arabian Auto posts 20pc rise in Nissan sales
- Global premiere for two Maserati models
- New Lexus wins Wheels magazine award
- Batelco to hold annual motor show
- Hyundai to unveil Intrado at Geneva
- Bahrain circuit to honour Schumacher
- Hertz unveils big plans for ME travellers
- F1 stars meet racing fans in Bahrain
- New Audi A3 Sedan launched in Bahrain
- Tata mulls Jaguar Land Rover plant in Saudi
- Nissan to showcase top models at Geneva show
- 51pc Dubai car buyers 'dissatisfied' with price
- Kia on Tour to start next week
- Al-Futtaim supplies hybrids to Cars Taxi