FD has already been brought in to handle Ford’s sale of the iconic car duo. It will have a role similar to the one it had when the American car maker auctioned Aston Martin earlier this year (PRWeek, 29 June).
But FD has also been advising Indian steel firm – and potential bidder – Tata Steel since it took over Corus (formerly British Steel) in a £5.1bn deal last year (PRWeek, 26 October 2006).
FD has a strategic alliance with Mumbai-based Vaishnavi Corporate Communications, which is retained by Tata. As such, it is considered a front-runner for the Tata business in the event of a bid.
Jaguar Land Rover currently operates as a single business under the Ford banner, but the company is thought to be seeking separate buyers. 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.
Ford’s auction has brought interest primarily from the private equity sector, with at least five firms circling the car brands. Mahindra & Mahindra, another Indian firm, is also expected to bid. The sale is not expected until early 2008.