After talks with Alchemy Partners over the sale of Rover break down, BMW warns it may have to close Rover Cars. This is the text of the brief statements issued by both companies.
BMW
BMW and Alchemy have terminated their negotiations. No agreement was reached on the sale of Rover Car Operations to Alchemy. The negotiating partners were finally unable to come to an understanding with respect to certain conditions of contract.
BMW Group will now pursue alternative routes to bring to an end its involvement in Rover Car Operations. Those routes include the sale of Rover Car operations or its closure. A decision which of those alternatives will be implemented will be taken during the course of next month.
This situation does not affect the preparations for the transfer of the Land Rover brand to Ford, which are conducted with high priority and in a straight forward manner. They will be concluded according to plan by the middle of this year.
ALCHEMY
Alchemy Partners and BMW have ceased negotiations as they were unable to agree upon certain contractual matters, some of which arose yesterday.
Alchemy Partners thanks BMW for its constructive and cordial negotiations and wishes Rover and its employees well for the future.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
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