Companies / United Kingdom
GAZ Examines UK Van Plant Deal
June 2006 | Company Finance AlertRussia's Gorkovsky Avtomobilny Zavod (GAZ, Gorky Automobile Plant) is in talks over the acquisition of troubled UK van manufacturer LDV. The move comes just six months after the Birmingham-based firm was bought up by venture capitalists Sun Capital Partners in December, after it entered administration with debts of GBP234mn.According to the Birmingham Post, RusPromAvto - the owners of GAZ - are offering Sun Capital GBP10mn for the right to build LDV vans, with an exclusivity period of six weeks during which time the Russian company will conduct a due-diligence exercise and possibly make a bid for the firm.
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