Qualified advisers answering your
Financial Questions
call 0800 092 1245

LDV saved in last-minute deal

The saga of LDV, the UK van manufacture, looks like coming to a successful close with the announcement of a takeover deal by Malaysian vehicle importer Weststar. The move has been assisted by the UK government which has been forthcoming with a £5 million bridging loan to give the takeover the best chance of being successful. This brings to a halt the ongoing pressure being applied to the UK authorities as the Russian parent of LDV continued to refuse additional funding for the business.

On the plus side over 800 jobs will be saved in Birmingham and thousands more in the supply chain. However, many other UK operations will now be looking towards UK government assistance should they continue to struggle and in many ways the UK authorities will be unable to resist these claims. Many believe it has taken too long for the UK government in to step forward with a bridging loan although, quite rightly, the UK authorities have on numerous occasions pointed out that the parent company of LDV was still trading and able to afford additional funding.

In the end it would appear the threat of a further 850 job losses has encouraged a U-turn by the UK authorities at this late stage.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details