AM Online

Land Rover and KPMG reach UPF deal

Following extensive discussions, Land Rover and KPMG, the receivers of UPF (UK) Limited, have today reached an agreement which will safeguard jobs and guarantees the supply of chassis for the Discovery model.

The settlement involves the acquisition of the debt by Land Rover, who will facilitate the continuation of the business through a number of committed parties. The exact details of who will assume responsibility for the different sectors of UPF Thompson have yet to be finalised and are subject to due diligence.

Land Rover and KPMG, together with the banks who appointed them, are confident that this is in the best interests of all concerned parties and that the agreement comes as a result of the professional conduct of all parties throughout the negotiations.

All parties acknowledged that this was a complex case with potentially wider implications for British industry and are therefore delighted to have reached a win-win resolution.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.