Ford hires FD to prepare for key car brand sales

Ford Motors has turned to Financial Dynamics as it mulls the sale of its Jaguar and Land Rover brands.

FD is offering strategic counsel to the motoring ­giant, which it advised over the sale of Aston Martin ­earlier this year.

Leading the account are directors Andrew Lorenz and Giles Sanderson. ‘Ford has not confirmed that the sale will definitely go ahead. At the moment it is consi­dering its options and there is no definitive timetable,’ said Lorenz.

Jaguar Land Rover currently operates as a single business under the Ford banner. But the company is believed to be seeking separate buyers for the two brands.

Land Rover is operating at a profit, while Jaguar has struggled since it was bought by Ford in 1989.

Ford, the third largest car maker in the world, bought Land Rover from BMW in 2000 in a bid
to build a luxury European car portfolio.

Jaguar Land Rover’s 16,000 staff have been taken by surprise by news of the sale, having been previously assured by the management that it intended to keep the brands. The company has had a strained relationship with unions in the past, and production at the company’s plant in Solihull was interrupted by strikes in 2004.

Ford will face a consider­able challenge in persuading unions to accept a takeover by a private equity firm, should one make an offer. Private equity firms have been criticised by unions for closing pensions schemes, making people redundant and stripping assets.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in