| Pendragon welcomes Indian bids for Jaguar and Land Rover |
| Thursday, 13 December 2007 | |||||||||||||||||||||
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Pendragon's prestige arm Stratstone has said that it has no concerns regarding quality control if an Indian company takes over Land Rover and Jaguar. The network, which runs over 50 Land Rover and Jaguar sites, has decided to ignore scepticism from US dealers regarding Indian bidders.  While Tata Motors and Mahindra & Mahindra are said to be two of three finalists in the bid to buy Land Rover and Jaguar, some US dealers are unsure about either Indian company owning the marques. US oppositionAccording to Ken Gorin, chairman of the Jaguar national dealer council in the US, American dealers think of India as a third world country rather than a place where prestige branded cars would be produced.
Gorin said that US dealers favoured the bid by OneEquity, the US private equity company that is Ford's third bidder.
Despite these objections, James Brearley, managing director of Stratstone and chairman of the British Jaguar dealers' council, last week gave the green light to any of the three bidders, the Times reported.
Brearley said he believed Gorin's view to be quite narrow.
British labour unions have come out in favour of the Tata bid and some European Jaguar dealers have also expressed support for the carmaker.
Ford still hopes to make a final sale by the end of this year or the beginning of 2008.
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Comments (5)
Last Resort
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Excellent post on th... Excellent post on the Interactive Investor Discussion, very much to the point, I think. www.iii.co.uk for a little more insight. "Is the Director named in this article worried about the future? is he trying to big himself up with the new potential owners of Jaguar and Land Rover so he has some kind of future when his current employers are just a dark and distant memory? Maybe the Stratstone division is going to break away from the rest of Pendragon and will become reliant on the new owners of JLR!!" |
Naman Singh
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It sounds so bad whe... It sounds so bad when someone says that a company from India canot do it, i think some people , please note only some people in the west still think it is good for them to donate fish to some poor country in Africa but they are really scared when a company from another poor country has learnt how to fish |
Oklahoma
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Ken Gorin can either... Ken Gorin can either eat it or gulp it. Money have no nationality. |
Brian McLean
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Equity Funds have no... Equity Funds have not got a very good record when it comes to maintaining or building companies neither has Jac Na*ser. Given the current money market problems these equity funds will also struggle to finance these highly geared deals |
Wiily Wonka
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I think if i was TAT... I think if i was TATA OR Mahindra & Mahindra , I would be more concerned about Stratstone representing the brands in the UK. |
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