In a deal which British Leyland says is worth “a little over £4m”, the group has gained control of a Spanish car firm. The Spanish Government has given permission to buy up more shares in the Authi car building plants in Spain, it was revealed over the weekend.
The deal, which follows those in 1969 which gave British Leyland half the Authi shareholding, will give the group nearly full control. A British Leyland spokesman confirmed yesterday that the purchase price is over £4m, and added that, “We have not heard of authorization being given by the Spanish Government, but, if it has been, then that would give us virtually the whole of the shareholding.”
Authi’s factory is In the northern city of Pamplona, and the aim is to produce 140,000 cars a year by 1977, of which 50,000 would be for export.
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.