Archive : Jaguar Spinoff Details Given

Carole Nash Classic Insurance Specialists

Jaguar Spinoff Details Given

BL P.L.C., the state-owned automobile manufacturer, today released the first details of the long-expected spinoff of its Jaguar Cars subsidiary. BL, formerly British Leyland, said it would offer 180 million shares in Jaguar when the subsidiary went public later this year.

It did not specify a date for the offering, but analysts said they expected it to come by late July. BL also said that Jaguar had earned estimated operating profits of $25 million in the first three months of 1984, on revenues of $200.1 million; it did not release comparable data for the 1983 period. Jaguar, the most profitable of BL’s operations, earned $78.2 million in 1983, up from $10.8 million in 1982.

BL did not say how much it expected to raise from the offering, but analysts have estimated the company’s worth at $350 million to $560 million. This would put the offering’s per-share value at $1.95 to $3.10. BL said the British Government would retain a ”special rights redeemable” share in Jaguar for ”some” years to prevent unwanted investors from acquiring too large a stake in the company.

Keith Adams

Keith Adams

Editor and creator AROnline at AROnline
Created www.austin-rover.co.uk in 2001 and built it up to become the world's foremost reference source for all things BMC, Leyland and Rover Group, before renaming it AROnline in 2007.

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.
Keith Adams

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