NForce » Sek Kov 06, 2016 9:05 am
On 31 January 1994 BAe sold the company on to German vehicle manufacturer BMW for £800 million (a takeover which caused uproar in the House of Commons), the name changing again in 1995 to BMW (UK) Holdings Limited.
Millions of pounds of investment by BMW failed to turn the company into profit. It has been estimated that the entire Rover bankruptcy cost BMW fifteen billion Marks. In March 2000, BMW announced its plans to sell the Rover Group. Within two months, much of the group had been sold.
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