Ford Hires KPMG to Eye Jaguar Books: Report
Ford Motors has hired accountancy group KPMG to examine the books at its British units Jaguar and Land Rover ahead of their expected sale later this year, the Sunday Times reported.
The newspaper, which did not name the source of its information, said KPMG had been given a mandate to revamp the companies' accounts so that they are in a proper form to be examined by would-be buyers.
"KPMG's main task will be giving a clear picture of Jaguar and Land Rover's performance as businesses separate from the influence of Ford," the paper said, adding that the accounting firm is also understood to have been asked to examine the companies' pension liabilities.
Officials at Ford and KPMG were not immediately available for comment.
Earlier this month, Ford said it was working with financial advisers on the best options for Jaguar and Land Rover as it continues a strategic review of its global operations.
Sources familiar with the matter have told Reuters that Ford had hired investment banks -- including Goldman Sachs