Jaguar and Land Rover will almost certainly be bought by private equity investors as there is no interest from any other car companies around the world, according to a leading London city analyst.
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Max Warburton, head of automotive research at UBS Investment Bank, said that another part of Ford’s Premier Automotive Group, Volvo, would also be sold although there was a lot more interest in the industry in buying the Swedish company.
Warburton said: “Ford has been in touch with the major investment banks to put PAG up for sale and that includes Volvo. We see no interest from the industry in the British companies but Volvo will be a prize asset.”
Speaking at the Automotive News Europe Congress in Prague, he added: “That being the case then private equity is the only answer for Jaguar and Land Rover. Given the recent interest from the private equity sector in Chrysler following the break up of DaimlerChrysler I am sure that a deal for these two brands can’t be far away.”
Also confident for the future was former Jaguar chairman Jonathan Browning, now chairman of Vauxhall and General Motors Europe sales and marketing chief.
He added: “While it’s not for me to comment on the future of Jaguar, I wish all my former colleagues well, Jaguar is still a fascinating brand with a rich heritage. I hope it all sorts out fairly quickly.”
