just-auto.com

GERMANY: Cerberus eyes Ford's luxury brands

By just-auto.com editorial team | 18 June 2007

Not content with having just acquired Chrysler, private equity firm Cerberus Capital Management is now reportedly interested in making an offer for Land Rover and Jaguar.

According to the German edition of the Financial Times, Cerberus has expressed an interest in both brands to Ford. "Cerberus is definitely one of the players in the game," an unnamed source was quoted as saying.

The Wall Street Journal reported on its website that discussions have taken place between Ford and Cerberus, but that they were "inconclusive". The report cited sources that said that the sale is expected to take at least a month, and possibly longer.

Last week private equity group Alchemy Partners denied reports that it intends to make a bid for the two brands.