Senior executives from Tata Motors and its investment
bankers are currently in London to start the Group''s due-diligence
on Jaguar and Land Rovers, which the Tata Group is keen
to acquire from Ford Motors.
the recent past Indian media has named Mahindra &
Mahindra as also been interested in making a bid to gain
a foothold in the US car market. Ford and Lehman Brothers
have separately valued Land Rovers and Jaguar together
at $3-7 billion.
to reports, the due diligence team, led by chartered accountant
Arun Gandhi, director, Tata Sons, who looks after M&As
for the group, is expected to be given access to the balance
sheets of Ford and other company documents to enable the
Tata Group to discuss the synergies likely to emerge from
an acquisition of the two marqué brands.
is credited with having clinched Tata Steel''s acquisition
of Corus Steel Plc earlier this year. Gandhi is currently
supervising the integration of Corus with Tata Steel.
motor''s advisors, Goldman Sachs, HSBC and Merrill Lynch,
are said to be in talks with the prospective bidders and
are expected to ask for binding offers by the end of this
Reports have named Citigroup
as Tata Group''s advisors for the acquisition, that analysts
predict would attract private equity funds TPG, Carlyele
and Cerebrus Capital to make a bid for.
the recent past, Alan Mulally, CEI, Ford Motor, the company
is "open to different options including retaining
a minority stake in the company."