Ford Ready to Spring Jaguar Free?

Former Ford Motor Co. CEO Jacques Nasser is said to be interested in investing in the auto maker's Land Rover and Jaguar premium brands.

Citing “four people familiar with the discussions,” a Bloomberg News report says Ford is in talks with JP Morgan Chase and Co.'s One Equity Partners LLC, where Nasser serves as the senior partner for mergers and acquisition.

A deal with Nasser could result in a “joint venture rather than an outright acquisition,” the report says, noting it is not clear how far talks have gone.

Meanwhile, the chairman of JCB Heavy Products Ltd., a U.K.-based manufacturer of heavy construction machinery, says he has an interest in buying ailing Jaguar from Ford, the Financial Times says.

Anthony Bamford says he would consider purchasing Jaguar if Ford “can split it off” from the Premier Automotive Group. “If they can separate Jaguar out (from Land Rover), then I'd like to buy it,” he says.

Recent media reports have said Ford is considering selling one or more of its brands as part of its Way Forward restructuring. Ford declines to say whether any specific brands are on the table.

Should Bamford succeed in acquiring Jaguar, he would “get rid of the small X-Type Jaguar, keep the S-Type and redesign the XJ,” the report says.

In addition, South Korea's Hyundai Motor Co. Ltd. says it was approached by Ford to buy Jaguar but turned down the U.S. auto maker's offer, a recent report in Korea's Chosun Ilbo newspaper says.