CDC steers owners’ Rolls-Royce bid

The Rolls-Royce Action Committee, a group of wealthy Rolls-Royce and Bentley enthusiasts, has appointed CDC Public Affairs ahead of a likely bid for Rolls-Royce Motor Cars.

The Rolls-Royce Action Committee, a group of wealthy Rolls-Royce

and Bentley enthusiasts, has appointed CDC Public Affairs ahead of a

likely bid for Rolls-Royce Motor Cars.



The Action Committee was formed last December in reaction to the threat

of Rolls-Royce being sold to a foreign bidder by its current owner

Vickers.



The committee is likely to announce details of its own bid next week but

may face strong competition from German car manufacturers BMW and

Volkswagen.



CDC will work on media relations and will also liaise with Rolls-Royce

and Bentley owners to keep them informed of developments and to generate

funds. The Committee will need around pounds 700 million to fund a bid

and subsequent investment.



Mike Penning, director of CDC, said: ’We’re working on the image of the

bid. We want to keep the name of Rolls-Royce, obtain collateral to fund

the building of a new model and ensure it uses a British engine.’



The Committee is headed by chairman Michael Shrimpton, a barrister and

Rolls-Royce owner. The committee’s cause could be helped by

contributions from five billionaires who are among the members of the

Rolls-Royce Enthusiasts’ Club as well as from investment banks.



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