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Phoenix Consortium - Definition and Overview |
| Related Words: Accord, Agreement, Arrangement, Bargain, Bond, Cartel, Club, Combine, Compact, Company, Concern, Conglomerate, Congress, Contract, Convention |
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The Phoenix Consortium is a group of four businessmen which purchased the British car company the Rover Group in April 2000, when BMW decided it was no longer willing to operate it. It comprises John Towers, Peter Beale, Nick Stephenson and John Edwards. The consortium paid just £10 for the company, together with Studley Castle, a conference hotel. They also purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with a undisclosed sum from the Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans.
Kevin Howe was appointed MG Rover's managing director in July 2000.
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Example Usage of Consortium |
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demonickzombie: DQM x adidas Originals Consortium Series http://bit.ly/84YZTi #fashion #design |
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indiefshionnews: DQM x adidas Originals Consortium Series http://bit.ly/5w9sux |
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Milkshake: XYZ, NIRICT, NOVAY en Philips hebben met Europees Consortium een plaatsje veroverd in het European Institute for Innovation and Technology |
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