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Mideast Funds Target Jaguar, Land Rover: Report

Reuters
Monday, 2 Jul 2007 | 2:21 AM ET

Middle Eastern investment funds are targeting Jaguar and Land Rover, the British luxury car brands that U.S. owner Ford Motor is considering selling, the Observer newspaper said on Sunday.

Abu Dhabi's Mubadala Development Company and Dubai International Capital have instructed financial advisers to drawn up plans for bidding for one or both companies, the newspaper said, without citing sources.

No one at the funds could immediately be reached.

Ford's president for the Americas said on Friday the company was "continuing to evaluate everything" with regard to Land Rover and Jaguar.

He declined to comment on whether it had received indications of interest from potential buyers.

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