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Discussion Starter · #1 ·
Ian Powell, one of the administraters now in charge of MG Rover Group Ltd has said in a statement that several companies have shown interest in MG Rover over the past day and would possibly consider accquiring the firm. The sorting of MGR finances are at a very early stage so nothing can yet be done in terms of finding a potential buyer, but this is a glimmer of hope for the company.
Assets are thought to be very low as they do not own Longbridge or the brand name Rover, they dont own their finance arm, parts buisness and the rights to the 25, 75 & K Series engine are already with SAIC. All their dealerships are heavily mortgaged. All that remains are production lines (£10m), Studley Castle (£8m) and the brand name MG (£50m)

Who do you think these possible companies are and will the Group be sold as a going concern or broken up??
 

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mg_6_gt
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Are we all 100% certain that 25, 75 and K series are owned by SAIC. If this were the case then the sale of the K series would mean that PowerTrain Limited would be in a healthy position financially, and in which case would NOT be in administration.

Also, MGR going bust happened very quickly, and I suspect, as has been said here previously that this was caused by SAIC pulling out of negotiations, and therefore MGR paying them back however much they had already invested into the company, which would mean that the 75 and 25 would still be owned by MG-Rover.

PS: Who ownes PowerTrain Limited? MG-Rover Group Limited or Pheonix Venture Holdings?
 

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other_manufacturer
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I really really hope its VW who will buy everything outright and show BMW how it's meant to be done, however thats less likely than the SAIC going ahead! I wouldn't mind it if Ford showed some interest, and for some reason i can kind of half see that happening. What about Proton, surely whats left of MGR would be ideal to save Proton? Sorry if i'm coming up with crazy ideas and talking [email protected]*p, but u have to remain positive
 

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Discussion Starter · #8 ·
Powertrain Ltd is owned by PVH, but without MGR they are nothing- they lose MGR Ltd, MG XPower, MG Rover Direct, Powertrain (because they are a subsiduary of MGR Ltd as are MGR Direct & XPower), Phoenix Venture Motors (because they are all MGR dealerships and are mortgaged), Phoenix Distribution (because they distribute MGR cars and Powertrain engines so with neither theres nothing to distribute) and Studley Castle which is part of MGR.
Yes SAIC have the rights to the 25, 75 and K Series because they paid MGR for them and even have a K Series production line. They "suddenly" went bust because they were paying wages to more staff than were needed, making too many cars that they couldnt sell, ordering more parts for these cars that they couldnt afford and ploughing money into RD60 and concepts even though they barely had enough to produce the current line up.
 

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I can already see it... Barratt homes presents New Longbridge- a fantastic new development consisting of Montego Court, Sterling Close, Phoenix Valley and Hewitt Avenues. oooooh vision of hell

:sad2:
 

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MattL said:
wouldnt want ford to own it!
Well if you look at the fortunes of Jaguar and compare it to Rover I think Ford would have been a good owner.. at least Ford hasn't done a BMW and its owned Jag for years without making a profit..yet its still not given up on the firm..
 

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I know this is very unlikely but....

Ford would actually be OK if they bought MG-R, the range of donor platforms etc is good so would help the company., and all the makes they own retain the essence of what made them what they were.
However, i have to agree with others on here and say that VW would be a pretty good owner as they have turned around damaged brands before - look at Skoda now - they platform share and engine-share etc, but allow each marque their own identity and spin, and VW are related to SAIC, so maybe it would be a wise investment.

Just a possible thought from a "little schoolboy playing shops" (as the Troll MGZROhno would say)
 

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rover_45
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There could be something in the VW idea though. The current manager is the ex-Rover manager under BMW ownership and he always had a soft spot for Rover and thought that it could work even in the final days of BMW ownership and he left BMW at the time of the sale. I can remember his name but somebody will.
 

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StreetBoy said:
I can already see it... Barratt homes presents New Longbridge- a fantastic new development consisting of Montego Court, Sterling Close, Phoenix Valley and Hewitt Avenues. oooooh vision of hell

:sad2:
Don't laugh, if you drive along the old A5 near Tamworth where Reliant used to be, you could choose to buy a house in 'Scimitar Park,' on Robin Road or Regal Close. Honestly.
 

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VW wouldnt be interested at the moment will they? last time i heard their finances werent up to scratch.

If anyone does buy MG-R then i would like to see Toyota or Honda buy them. They have put millions into the british industry and think they would do the same if they owned MG-R. They also have a proven track record of reliable technology.
 

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The apprentice training school I went to was on Singer way. On the same estate as Wolseley road, Riley Way and Sunbeam close!
 

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Peterover said:
Well if you look at the fortunes of Jaguar and compare it to Rover I think Ford would have been a good owner.. at least Ford hasn't done a BMW and its owned Jag for years without making a profit..yet its still not given up on the firm..


If the worst happened and it all had to be sold off then I would like Ford to buy all of the names and give them to Land Rover for safe keeping. MG would undoubtably be resurrected first and who knows Rover at a later date, but I'd feel safer if they owned these names. After all Land Rover and Gaydon IS Rover as much as MG-Rover group is. They share a history. (they belong together!) However I am hoping for the miracle, that PVH can reorganise MG-R with PWC's help and stay in business..
 

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to be honest i doubt a car maker will buy MGR as most car makers are now full, VAG have every market area coverd, as do ford and GM.

In all honesty i see someone like Tesco buying MGR, as they seem to be expanding into everything these days.

all the ingrediants for success are at MGR, they just need time to mature, unfortunately time is money.
 
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