Ford expects to sell its Jaguar and Land Rover UK premium brands in the next two months but does not expect to sell them separately, Ford Europe chief John Fleming, was quoted as saying on Monday by a Spanish newspaper.
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“We are well on and in two months at the most we’ll know which of the groups interested in the brands will be their new owner,” Fleming told El Mundo, according to Reuters.
Fleming was also reported to have said Ford was still analysing how the sale of Volvo might affect it.
Last week, people familiar with the matter told Reuters bids for the luxury brands could land around the end of October or the beginning of November.
Asked if the two brands could be sold to two bidders, El Mundo reportedly quoted Fleming as saying: “No, not really. They are both very integrated and it would be difficult to sell them separately.”
Fleming was also reported to have said Ford was still in the process of a strategic review of what it should do with Swedish brand Volvo.
“Volvo is a fundamental partner in the development of safety and environmental technology. It would be very dangerous to hand it over to a competitor,” Fleming was quoted as saying.
