A trio of old-school Ford execs won't be revisiting their old stamping grounds. Tata Motors' winning $2.3 billion bid for Jaguar-Land Rover canceled out the chances of three private equity groups advised by the onetime Ford leaders — including Jacques Nasser, the former Ford CEO who set up the company's once-vaunted Premier Automotive Group.
Nasser's One Equity Partners was among the finalists to buy Jaguar-Land Rover. A successful bid would have returned control of a large portion of PAG back to Nasser, giving him a second chance at making those brands fly.
Two Jaguar veterans also played a role. Onetime Jag CEO Nick Scheele advised Ripplewood Holdings, and former Jaguar-Land Rover CEO Bob Dover advised Texas Pacific Group.
In the end, Tata's willingness to preserve the work of Nasser, Scheele and Dover probably gave it the edge.
Tata provided the assurances that Ford wanted, said Garel Rhys, a U.K. auto analyst. Those assurances included "no asset strippers" and keeping the British brands in their existing forms, Rhys said.
In the end, those commitments persuaded unions in England to favor Tata over their former bosses.