Ford to sell Jaguar, Land Rover

[King Nothing]

Well they have gone and done it now...

http://www.smh.com.au/news/business/...414275348.html

Ford considers Jaguar, Land Rover sale: report

Ford Motor has given Goldman Sachs Group Inc, Morgan Stanley and HSBC Holdings plc a mandate to sell Jaguar and Land Rover, its two British luxury brands, the Financial Times reported in its electronic edition.

The planned sale does not include Volvo, Ford's third premium marque, and is said to be in its early stages, the report said.

The news follows persistent speculation that Ford, which sold the Aston Martin sports car marque to a Kuwaiti-led consortium in March, might look to unload the two brands as part of its drive to create a more streamlined and competitive volume car business.

The US company, which reported a record loss of $US12.7 billion ($15.1 billion) last year, is in the midst of its "Way Forward" restructuring plan, aimed at restoring its competitiveness and returning its core North American operation to profitability in 2009.

Ford may have an easier time selling its two British brands to private equity investors than a rival carmaker, the report said.