On Monday, rumors broke that BMW was nearing an agreement with Chinese automaker Shanghai Automotive to sell the rights to the Rover brand for around $20 million. The possible deal was reported by the U.K.’s Birmingham Post, which said an announcement would come later this week. Today, the U.K.’s Financial Times claims to have confirmed the deal. But there are conflicting reports about comments from BMW spokespeople and representatives.
The Guardian Unlimited says a BMW spokesman confirmed the deal. “Agreement has been reached in principle with SAIC.” He said closing of the deal would depend on whether Ford would exercise its right to acquire the name first. (When Ford bought Land Rover from BMW, the German automaker agreed it would have first dibs on the Rover brand as well).
“While an agreement has been reached, the completion of the sale is conditional upon whether or not Ford takes up its right to buy,” The Australian quoted a spokesman as saying.
“We have no plans ourselves to revive the Rover brand and always said we were happy to sell, provided Ford agrees,” BMW reportedly told the Guardian.
But conflicting reports have surfaced that call the report into question. “The deal is not done yet,” another BMW spokesman told Reuters from Munich. The AFX news service is reporting much the same thing, saying no deal has been made. “We are currently negotiating with a few interested parties, including SAIC, regarding the sale of the rights, but no agreement has yet been reached,” a representative said.
We’ll keep you posted as this story develops…
08/17, 8:50 AM
posted by:
vandg
Ford Should Take Rover Reason None The Deal Sounds That Cool Everyone Should Do It Oh Yeah…or Maybe Not
08/17, 8:50 AM
posted by:
vandg
Ford Should Take Rover Reason? None The Deal Sounds That Cool Everyone Should Do It Oh Yeah…or Maybe Not
08/17, 9:27 AM
posted by:
British_rover
(When Ford bought Land Rover from BMW, the German automaker agreed it would have first dibs on the Rover brand as well
I can just see those exact words on the Land Rover sales contract.
BMW gives Ford first Dibbs on the rover brand…
08/17, 12:10 PM
posted by:
True
As an aside – “first dibs” generally translates to “first right of refusal” in legal jargon.
08/17, 2:26 PM
posted by:
1c3d0g
I think Ford/BMW should just sell the whole thing off, Rover, Land Rover, everything.
08/17, 2:42 PM
posted by:
stuart
Hey Madcapp You have two American brands left, 1 is about to get taken over by the french and japanese and the other is on the verge of death. On top of that around 75% rather go for a japanese which are **** anyway and the ones left rather buy european.
When rover died they had car made with peanut development cost but still 20 light years ahead of anycar made by the americans.
You are a retard go to sleep son.
08/17, 4:13 PM
posted by:
Madcapp
I fully appreciate how dissapointing it must be to be British these days. The sun used to never set on the British empire, and now it has…and in a big way. That’s why I’m rather amused to listen to your rambling diatribe, your conjecture, your pointless banter.
08/17, 7:26 PM
posted by:
Anonymous
Rover is a good name for an old dog !
08/23, 9:13 AM
posted by:
Jahmills
Yeah, Ford is going to buy out Rover with all their money!