Press Report : Weststar still in the frame to buy LDV
Jon Griffin, Birmingham Post, 17th September, 2009
Malaysian group Weststar are still in the frame for Birmingham van-maker LDV – and a takeover deal could be sealed within a week. The Malaysian group issued a statement through its Birmingham-based solicitors to end days of speculation that it had walked away from talks with the van manufacturer’s administrators PricewaterhouseCoopers.
The statement was circulated amid growing concern that adverse publicity could wreck an agreement following months of lingering hopes that production could yet be brought back from the dead at the Washwood Heath factory.
The statement said: “Due to numerous reports in the last 24 hours, Weststar wish to clarify the position. Weststar retains its continued interest in the LDV Group, presently in administration. Due at this time to what we believe is the delicate nature of the negotiations it would be inappropriate for Weststar to make any further comments. However, it is envisaged that a further statement will be released in the near future.”
[Source: Birmingham Post]