SAIC to buy Rover brand from BMW
Category:[world] [BIZCHINA] [Center]
The latest deal is reportedly worth 11 million pounds (US$20.8 million).
However, Ford, which bought Land Rover from BMW in 2000, has first refusal on the Rover brand.
It has 90 days to decide whether to take up its option, and said it was now considering its position.
A BMW spokesman told China Daily: "We have been in discussions with several parties on the sale of the Rover trademark, and a deal has been closed with one of those parties.
SAIC to buy Rover brand from BMW(Over)
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Shanghai Automotive Industry Corp (SAIC) has agreed to purchase the rights to
the Rover brand name from BMW, sources said yesterday.
SAIC already owns the design
rights to two models the Rover 75 and 25 which it bought from the MG
Rover group last year.
Shanghai Automotive Industry Corp (SAIC)'s plant. SAIC has agreed to purchase the rights to the Rover brand name from BMW, sources said yesterday.SAIC already owns the design rights to two models the Rover 75 and 25. [Xinhua] |
The latest deal is reportedly worth 11 million pounds (US$20.8 million).
However, Ford, which bought Land Rover from BMW in 2000, has first refusal on the Rover brand.
It has 90 days to decide whether to take up its option, and said it was now considering its position.
A BMW spokesman told China Daily: "We have been in discussions with several parties on the sale of the Rover trademark, and a deal has been closed with one of those parties.
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SAIC to buy Rover brand from BMW(Over)
[Click Here] Sharing with your friend in QQ/MSN!Last:Strong TV ratings for Worlds