Ford is expected to receive up to six indicative bids for Jaguar and Land Rover on Thursday, kicking off a surprisingly competitive auction of the UK luxury carmakers. Cerberus Capital Management, Ripplewood Holdings and One Equity Partners are among private equity groups understood to be planning bids. At least one trade buyer is thought to be planning an indicative bid. Tata Motors of India appears to be the most likely contender while Renault Nissan of France is thought to have backed away and Hyundai of South Korea said it had “no interest” in buying another brand.

This entry was posted by Gwen Robinson on Thursday, July 19th, 2007 at 5:44 and is filed under Capital markets, M&A, Private equity. Tagged with cerberus, ford, Hyundai, jaguar, land rover, one equity, Renault Nissan, ripplewood, Tata Motors. Edit this entry.