David James, the so-called company doctor, on Thursday made two formal offers for parts of MG Rover, which collapsed in April with the loss of 6,000 jobs and £1.4 billion of debts, the Daily Telegraph reported.
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James’ offer, through his Project Kimber consortium, joins bids from two Chinese companies, Shanghai Automotive Industry Corporation and Nanjing Auto.
The Daily Telegraph said one Kimber bid is for the MG brand, the intellectual property rights, the production line and tooling for the MG TF sports car, and the means to contract build for third-party car makers.
The other bid reportedly is for Powertrain, MG Rover’s engine production line. According to the paper, James said this “will provide the optimum combination that will be in the best interests of the creditors”.
James also reportedly said Kimber was offering its services “free of charge” to assist with the sale of the assets that are surplus to Kimber’s needs. His spokesman was unable to tell the Daily Telegraph how much Kimber is bidding for the assets.
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By GlobalDataA spokesman reportedly was confident the bid would not be hampered by the decision by the four former owners of MG Rover to sell the intellectual property rights to SAIC for £67 million last year because he believed the key rights were in most cases more than 10 years out of date.
