2nd Mar 2007 13:48
Ford Motor Co02 March 2007 Contact: Media: Equity Investment Fixed Income Shareholder Inquiries: Tom Hoyt Community: Investment Community: 1.800.555.5259 or 1.313.322.1524 Larry Heck Rob Moeller 1.313.845.8540 [email protected] 1.313.594.0613 1.313.621.0881 [email protected] [email protected] [email protected] IMMEDIATE RELEASE FORD ANNOUNCES AGREEMENT TO SELL AUTOMOBILE PROTECTION CORPORATION DEARBORN, Mich., March 2, 2007 - Ford Motor Company (NYSE:F) announced todaythat it has entered into a definitive agreement to sell Automobile ProtectionCorporation (APCO) to Trident IV, L.P., a private equity fund managed by StonePoint Capital LLC. This transaction is the result of the review of strategicoptions for the business announced by Ford on October 11, 2006. The sale is expected to close during the second quarter and is subject tocustomary closing conditions, including applicable regulatory approvals. Termsand conditions specific to the agreement are not being disclosed at this time. APCO, a wholly owned subsidiary of Ford Motor Company, was purchased by FordMotor Company in July 1999. APCO offers vehicle service contracts and relatedafter-market products to dealers of all makes and models. Stone Point Capital is a global private equity firm based in Greenwich,Connecticut that manages the Trident Funds and has raised more than $8 billionin committed capital to make investments in the global insurance and financialservices industries. Ford Motor Company, a global automotive industry leader based in Dearborn,Mich., manufactures and distributes automobiles in 200 markets across sixcontinents. With about 300,000 employees and more than 100 plants worldwide, thecompany's core and affiliated automotive brands include Aston Martin, Ford,Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-relatedservices include Ford Motor Credit Company. -###- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
FDM Group