BMW Sells Rover to Phoenix Group

May 26, 2000
Filed under Trailer News

German automaker BMW ended its costly six-year-long ownership of Britain’s Rover Group with
a deal to sell Rover to the Phoenix consortium, led by a former Rover chief John Towers.
BMW estimates that Rover lost over $4.1 billion since it acquired the business in March
1994, and it sold Rover for a token $16 dollars. The deal is effective immediately. BMW had
preferred to sell to British venture capitalists Alchemy Partners, which abandoned takeover
talks at the last minute.

Print Friendly


Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!

Get a FREE issue of Trailer Life Magazine

Sign up for your trial subscription and you'll receive a FREE issue. If you like Trailer Life, pay just $17.97 for 11 more issues (12 in all). Otherwise, write "cancel" on the invoice, return it and owe nothing.

Terms of Use | Privacy Policy

© 2016 Good Sam Enterprises, LLC. All Rights Reserved.