Negotiations with a preferred bidder continue for the failed British van manufacturer LDV despite news that Malaysian buyer Weststar has pulled out.
Roadtransport.com has learned that due diligence with the bidder is scheduled to be completed at the end of September. The BBC revealed yesterday that Weststar had pulled out of talks last week
and suggested that Chinese firm Chinese Ventures Ltd remained in discussions.
Administrator PricewaterhouseCoopers was not able to comment further on the latest developments, and referred to its own announcement in August that it was in dialogue "with one party on an exclusive basiswith the hope of achieving a sale of the business and assets".
At the time, PwC said the party was "studying the options for recommencing some production, at a time yet to be determined, at the Washwood Heath site".
Reed Business Information Limited.©2009
