Cerberus Capital Management, Ripplewood Holdings and One Equity Partners are some of the buyout firms considering bids for Land Rover and Jaguar, two luxury car marques owned by Ford Motor Company.The three firms have received preliminary financial data from Ford’s bankers, Goldman Sachs, Morgan Stanley and HSBC, according to The Financial Times.
Other private equity players have also been linked to a potential bid. UK buyout firm Alchemy Partners is thought to be exploring a consortium offer but, according to the FT, did not receive the financial data.
The Observer reported at the weekend that Dubai International Capital and Abu Dhabi’s Mubadala Development Company are preparing a joint bid for one or both of the companies. However, both firms have now denied takeover ambitions for either of the businesses.
New York-based Cerberus has considerable experience in the automobile sector. The alternative asset manager, which specialises in distressed debt investments, recently bought DaimlerChrysler’s US business – which owns Land Rover rival Jeep – for $7.4 billion (€5.4 billion) in June.