Russian billionaire Oleg Deripaska, the head of Russian automaker GAZ, is eyeing Land Rover and Jaguar, premium British Brands owned by Ford. GAZ is a part of Deripaska’s basic element investment group.
The billionaire tycoon has expressed his interest in getting the acquisition, as told by the sources close to the American automaker to Wirtschafts Woche. Spokeswomen from GAZ declined to respond when inquired about the matter; however she said that the company has made it clear in the past that it will try to expand through mergers and acquisitions.
Ford expressed it’s acquiesce about selling the business last week and has started detailed negotiations with the interested parties. It has been reported that until date four private equity groups have expressed their interest in the takeover of its iconic UK brands, for about £ 1.5 billion.
It is important to mention here that the same Gorky Automobile Plant (GAZ) publicly ruled out any possibility to bid for Jaguar nearly about a year ago. They mentioned that the company was only interested in commercial vehicles and powertrain. Maybe this time it’s the profit yielding Land Rover which made them review their decision.
[Image Credit: Hotnews]
[Courtesy: Forbes]
