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Rover carved up
By Stéphane Schlesinger on 31 May 2005 | (1) Comments | Permalink
PriceWaterhouseCoopers’s administrators have announced that before the deadline of May 13 th, 12 companies had made serious offers for taking over parts of the Rover Group.
Iranian Secretary of Sate for Trade and Industry Es-Hagh Jahanguiri made it clear that Iran was no longer interested in Rover since what made its value, its licence, had already been taken over by the Chinese company SAIC.
This being said, there still are numerous possibilities as to who might buy parts of the dead group, the most interesting of them being MG. Some say Russian investors, such as Nicolai Smolenski, who owns TVR, or Ruspromavto, which owns Volga, may be ready to purchase Morris Garage. Besides, 2 Biritish consortiums, Chapman Automotive and Welford-Winton have gone public with their statements of interest.
Anyway, nothing is certain yet, waiting for an official declaration by PriceWaterhouseCoopers seems a better bet.
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Posted by: Jack Yan | Jul 27, 2005 3:30:24 PM
Feel free to check www.beyond-branding.com, where I blogged the latest on the fiasco. I'm personally glad Nanjing Automotive has MG Rover now.