The Triple A consortium, led by Monaco-based car-industry analyst Krish Bhaskar, is said to have offered PwC – the administrators for MG Rover – £65m for the business.
According to The Sunday Times, the consortium, which has considerable Middle Eastern backing, has already paid a £5m deposit for the car company’s remaining assets.
The paper says it is unclear as to whether PwC is taking the offer seriously, but the administrators said last week that they had received two ‘credible’ bids.
Bhaskar has said that 4,000 jobs would be saved at the Longbridge plant, which would eventually make 200,000 cars per year, nearly double the production of its former owners.
PwC is to provide an update to MG Rovers’ creditors, who are owed about £1.4bn, at a first creditors’ meeting on Friday.
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Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies