Ford has been trying to sell its Jaguar and Land Rover brands for several months now, but today the automaker announced it wants no future shares in either company. Unlike when Ford sold Aston Martin and kept a small stake in the company, whoever purchases Jaguar and Land Rover will be the sole owners.
Ford’s European boss, Lewis Booth, told reporters this week in Frankfurt that the company wants final bids for the brands by the end of September and the deal closed by the end of the year. According to Booth, Ford wants to rid itself of distractions from its core businesses and therefore doesn’t want to retain stakes in either company.
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