Potential bidders for the Jaguar and Land Rover car businesses have been told they have until July 19 to submit indicative bids for the two British car brands, according to people familiar with Ford’s plans to sell the businesses.
However, any sale could still be some time off because Ford has not yet prepared full documentation on the two brands, whose operations are closely interlinked and which also have complex relationships with the wider Ford group.
Ford’s plans to sell the two prestige marques became public last month.
Land Rover has enjoyed a revival of fortunes recently and is profitable, while Jaguar remains lossmaking.
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