Ford to acquire Kwik-Fit for $1.61 billion

Article Abstract:

Ford Motor Co. announced that it is planning to purchase Kwik-Fit Holdings PLC for 1 billion pound sterling ($1.61 billion). Kwik-Fit is the largest car-repair chain in Europe. The deal is part of Ford's aggressive expansion strategy. Kwik-Fit, which is based in Scotland, has over 1,900 service centers located throughout Europe. Ford's acquisition of Kwik-Fit reflects the former's first large expansion into the car-repair industry.

Comment:

Ford Motor to purchase Kwik-Fit Holdings PLC for 1 billion pound sterling ($1.61 billion)

Automotive Repair, General, General Automotive Repair, Abstract, Ford Motor Co., Automotive maintenance, Automobile repair shops, Automotive repair shops, Kwik Fit Holdings PLC

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DaimlerChrysler agrees on TAG McLaren Option

Article Abstract:

DaimlerChrysler Corp. has reached an agreement to purchase 40% of TAG McLaren Group. TAG McLaren is the owner of a high-profile Formula One racing team. DaimlerChrysler stated that the acquisition's financial details and timing are still being negotiated. Mansour Ojjeh and Abdul Aziz, two Saudi billionaire brothers, currently control 60% of TAG McLaren. The remaining 40% belongs to the head of the Grand Prix team, Ron Dennis.

Comment:

DaimlerChrysler to purchase 40% of TAG McLaren

Germany, Sports Teams and Clubs, Professional Sports NEC, Professional sports, Automobile racing, Daimler AG, TAG McLaren Group

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Saab sells Bofors unit to United Defense

Article Abstract:

Saab AB will sell its Bofors Weapon Systems unit to United Defense for an unrevealed amount. United Defense will purchase all of Bofors under the deal.

Sweden, Military Armored Vehicle, Tank, and Tank Component Manufacturing, Tanks & Tracked BF Vehicles, TRANSPORTATION EQUIPMENT, Tanks and tank components, Transport Equipment, Saab-Scania AB, Tracked military vehicles, Military vehicle industry, Bofors Weapons Systems, United Defense Industries Inc.

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