LDV was put into administration last week and is in talks with Phones4U owner John Caudwell as a possible takeover bid.
The billionaire has asked his team to look into the company and review the situation and then will bring in new management to take the company to new life.
John sold Caudwell Group telecoms business in 2006 for £1.46 bn which at the time was the top of the market. This will be his first step back into the industry since 2006.
John sees LDV has a lot of potential as the demand for vans overseas is still very high, particulary in third world countries he says. He is still in early talks with pricewaterhousecoopers and hasn’t signed a non-disclosure agreement yet.
In 2003 Mr Caudwell sold his Singlepoint telecoms business to Vodafone for £400m and Caudwell Holdings, including Phones 4U, to a private equity consortiumthree years later.
At the moment Caudwell spents most of his time working with the Caudwell Children charity which is near to the LDV Midland base.
After the sale of the Caudwell group he has invested £15m in advanced marine propulsion system and a further £100m into commercial property which are both managed by business associates.
Another firm interested in LDV is Malaysian firm Westar. They pulled out of a deal early this month which forced LDV to go into administration but they say they are still interested in the firm.
Also another firm called Nanjing which are a chinese manufacturer which bought MG Rover in 2005 are also said to be interested in LDV. Indian conglomerate Mahindra Group are also said to be interested.
By the looks of things it could turn into a bidding war for the LDV company. PriceWaterHouseCoopers said it had 3 interested parties but would not comment on Caudwells approach.
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