Ripplewood Adds Scheele

Ripplewood Holdings is understood to have boosted its chances of landing Jaguar and Land Rover, by hiring Sir Nick Scheele, Ford president and chief operating officer from 2001 to 2005.

Scheele will advise Ripplewood and lead on its bid for the Jaguar and Land Rover. One Equity Partners, the private equity arm of JP Morgan Chase, is also on the trail of the Gbp4bn-rated (US$8.08bn) duo and has lined up Jac Nasser, Ford chief executive from 1999 to 2001, to strengthen its bid.

Cerberus Capital Management, which is in the process of buying Germany's Chrysler, TPG Capital and India's Tata Motors and Mahindra & Mahindra are also understood to be considering bidding for the carmakers.