The Jaguar C-XF at this year's North American International Auto Show.
The Jaguar C-XF at this year's North American International Auto Show.
KEY POINTS:
The Jaguar and Land Rover brands being sold by Ford Motor Co are expected to attract less interest than sister unit Aston Martin did.
Among the suitors who have been sent informal information by Ford's advisers are buyout firms Cerberus, Ripplewood and One Equity, sources said.
However, unsuccessfulbidders for Aston Martin, including Syrian-born tycoon Simon Halabi and British buyout firm Doughty Hanson, have no plans to express interest in Jaguar and Land Rover when initial indications of value are due to Ford on July 19, the sources said.
Ford said last month it was working with financial advisers on the best options for the two brands as it conducts a strategic review of global operations.
Those interested in Jaguar and Land Rover have received a small amount of data but have not been sent the full information customary in a more formal sale process.
The units' combined value was placed at $1.3 billion to $1.5 billion in March by Merrill Lynch analysts.
Many potential buyers are choosing to sit out the process because Jaguar is unprofitable and Land Rover lacks the trophy asset lure of Aston Martin. Neither has the scale of Chrysler, which DaimlerChrysler has agreed to sell to Cerberus.
Canadian autoparts maker Magna International, which had bid for Chrysler earlier this year, said last week it would not bid for Jaguar and Land Rover, according to Canada's Globe and Mail newspaper.
Sources said British-based buyout firm Blackstone Group was unlikely to bid.
Others that have ruled themselves out include British-based buyout firm Alchemy Partners, France's Renault SA, Dubai International Capital and Abu Dhabi-owned Mubadala Development Co.
Ford has hired investment banks Goldman Sachs, HSBC Holdings Plc and Morgan Stanley to help explore a sale of the two brands.
Ford agreed in March to sell Aston Martin to a group fronted by former Benetton and BAR racing boss David Richards.
Ford, Blackstone, Halabi, Ripplewood and Doughty Hanson declined to comment.
