Jaguar Cars are paying some £3,400,000 for Daimler Cars, it is announced today.
All arrangements for the purchase of the company were finally concluded last Saturday. In addition, the value of other Daimler assets excluded from the sale to Jaguar, which will be released for other purposes or sold separately exceed £400,000, the Birmingham Small Arms Company-Daimler’s previous owners-announced.
The purchase price includes an estimated amount in respect of the balance of current assets and liabilities, which is subject to final adjustment by the auditors of the respective companies. Jaguars reiterate their previous statement that the production of the current range of Daimler models is to be continued.
Furthermore, research and development work in connexion with future Daimler models will proceed normally. Jaguars deny rumours to the effect that sweeping changes, including even the extinction of the Daimler marque, are to be expected. The company’s long term view envisages not merely the retention of the Daimler marque, but the expansion of its markets at home and overseas, it is stated.
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.