On your marques: former Ford chief Nasser eyes up Jaguar
Saturday 26 August 2006
A private equity arm of, JPMorgan Chase, which counts Jacques Nasser, Ford's former chief executive, as one of its partners is eyeing some of Ford Motor's luxury brands including Jaguar.
The private equity group, One Equity Partners LLC, is believed to be interested in parts of Ford's Premier Auto Group, although talks are at a very early stage.
The Premier Auto Group includes the Jaguar, Land Rover, Volvo and Aston Martin brands.
Other potential bidders for part or all of the unit include Sir Anthony Bamford, the head of the machinery group JCB.
One Equity Partners declined to comment. A Ford spokesman told Reuters: "We do not comment on speculation."
Mr Nasser was ousted as Ford's chief executive and president in October 2001 amid mounting troubles at the car maker. His departure came soon after the US car giant Ford reported a $692m (£367m) third-quarter loss on top of a loss in the previous quarter. He joined One Equity Partners in 2002.
Ford is under pressure to speed up cost-cutting efforts after a $254m loss in the second quarter and worse-than-expected US vehicle sales in July, down almost 10 per cent, as Toyota outsold Ford for the first time.
Separately, Ford said yesterday that Robert Rubin, a member of Citigroup's Office of the Chairman, has resigned from Ford's board of directors.
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Joan Rivers: 'Palestinians deserve to be dead'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£400 - £450 per day + competitive: Orgtel: My client, a leading bank, is curre...
£20000 - £30000 per annum + OTE £40-50K first year: SThree: The SThree group i...
£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...
£85000 - £100000 per annum: Ashdown Group: Head of Marketing - Slough, Berkshi...