LONDON — Thousands of jobs and a symbol of British manufacturing are saved in an 11th hour deal that has BMW AG selling its Rover car company to a U.K. consortium. The Phoenix group bought Rover and its MG brand for a symbolic £10 (US$16). Rover's new ownership officially began on May 9. The sale followed months of uncertainty that had BMW originally selling the group to venture capitalists Alchemy Partners. Alchemy broke off negotiations with BMW over questions about who would fund ...
Premium Content (PAID Subscription Required)
"Rover back in British hands" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: email@example.com or phone: (248) 799-2642