In 1988 British Aerospace bought Rover Group (which includes Land-Rover). Rover Group was sold to BMW in 1994.
In April 2000, BMW announced that it would break up and sell Rover, selling Land Rover (to Ford), keeping the new Mini, and selling the rest of the car section to an investment company `Alchemy' which would make and sell sports cars under the `MG' name (the British government was not pleased!). By late April, the Alchemy deal may have fallen through with a rival `Phoenix' group, led by an ex-Rover executive, still in the race.
In April 2000, BMW announced that it would break up and sell Rover, selling Land Rover (to Ford), keeping the new Mini, and selling the rest of the car section to an investment company `Alchemy' which would make and sell sports cars under the `MG' name (the British government was not pleased!). By late April, the Alchemy deal may have fallen through with a rival `Phoenix' group, led by an ex-Rover executive, still in the race.