Germany: BMW Group, Ford Motor Company Sign Definitive Agreement for Land Rover
BMW Group and Ford Motor Company today announced that they have signed a definitive agreement for Ford to buy the Land Rover business from BMW. Joachim Milberg, chairman of the Board of Management of BMW AG, and Jac Nasser, Ford Motor Company president and CEO, reached the agreement after approximately two months of due diligence following the companies' memorandum of understanding (MOU) signed on March 16, 2000.
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