(Detroit : Ucs News) US automaker Ford has briefed Wall Street that it is planning to sell its British luxury car brands, Jaguar and Land Rover as well as it’s mainstay Ford Lincoln and Mercury Divisions.
Ford, which has been cutting costs in a bid to offset declining sales, is expected to make an official announcement in the next few days.
Ford expects strong interest from private equity firms for all five brands.
It is thought that Ford wishes to sell Jaguar, Land Rover, Ford, Lincoln and Mercury to a single bidder, But there is likely to be more interest in the Land Rover brand, which Ford has invested in heavily in recent years
The company has selected Goldman Sachs, Morgan Stanley and HSBC to advise it on the sale of the brands.
In March, Ford sold sports car firm Aston Martin for