UK - One Equity submits full bid for Jaguar and Land Rover

One Equity, the private equity arm of JP Morgan, is understood to be one of three groups to have submitted a full bid for Jaguar and Land Rover. Ford decided to sell its UK assets - Jaguar and Land Rover - as part of a move to reduce its debt. Ripplewood, the private equity firm, and Indian industrial giant Tata are amongst the other bidders. It is believed that other private equity groups including Terra Firma and TPG have also made indicative offers.