Jacques Back?! Ford May Sell Jag/Land Rover To Ex-CEO’s Investment Firm
Jacques Nasser, Ford's controversial former CEO could get a second chance at his vision at least part of the Blue Oval's Premium Auto Group.
Nasser, now a senior partner at JPMorgan Chase & Company's One Equity Partners LLC is reportedly in talks with Bill Ford to purchase Jaguar and Land Rover. Nasser has reportedly remained on friendly terms with current CEO Bill Ford since he lost his post back in October of 2001, and now he and his group appear well-placed to make a deal.
Ironically, during Nasser's tenure, Ford was widely dinged in the media and among stockholders for focusing too much on PAG investments, and not enough on the company's bread-and-butter product. During his tenure, Nasser had spearheaded the acquisition of Land Rover and Volvo, companies he thought saw as integral to a profitable Blue Oval. He would later exit Ford during the height of the Explorer/Firestone tires debacle and a string of quarterly losses.
The Nasser/JPMorgan news is all on top of a recent crop of speculation suggesting that the Ford family may elect to simply privatize the company, as well as word that UK construction-equipment magnate Sir Anthony Bamford may be interested in purchasing Jaguar with money earned from his JCB interests. JCB, as you'll recall, is the firm who's name is on the Dieselmax streamliner that set a new diesel speed record at Bonneville earlier this week.
Pop some popcorn, and grab a tasty beverage… the saga of Jaguar and Land Rover is just starting to get interesting.
+ Detroit Free Press: Ford in talks to sell luxury brands to Nasser-led group
Comments
c.walker
With my experience with Land Rover, I have found that it is truly a unique automobile. It has a long history and has been in,around, and involved in many major events since it's birth. I am an american and I live in the U.S.. I am on my 5th LR in the last 10 yrs. and I plan to always have one. I don't quite understand the whole Defender thing! If everyone who owns a toyota, nissan, isuzu,ford or chevy med. size truck had the choice of a Land Rover Defender Hicap model at a competitive price, I don't think there would be as many toyo's, nicin's, or other small pick-ups in this country. The Defender is one tough vehicle and I wish they were available in this country.
If ford can take this to the next level, leave the toughness alone, not soccer mom , and add a diesel that gets no less than 28 mpg's, then keep the company. If thry can't or won't do that, then make the deal, sell the company and don't mess Land Rover.
Bring back the Defender, the full line, they will sell!!!!!!!!!!!!!!!!!
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