Ford has invited short-listed Indian bidders Tata Motors and Mahindra & Mahindra to meet Jaguar and Land Rover managers in the next few weeks.
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Industry insiders told the Economic Times of India both automakers have been contacted for the management meetings which will be followed by detailed due diligence.
Consultants have told the newspaper that North American corporate average fuel economy (CAFÉ) considerations may impact valuations of the otherwise profitable and attractive Land Rover business while analysts say that the deal may have a built-in clause that will make it impossible for a buyer to retrench employees or restructure operations at the UK plants for a period of time.
The report said Ford is seeking assurances that whoever buys the two firms will keep all the UK factories open for at least five years to safeguard UK jobs.
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