Ford Motor Co
02 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
thoyt@ford.com 1.313.594.0613 1.313.621.0881 stockinf@ford.com
fordir@ford.com fixedinc@ford.com
IMMEDIATE RELEASE
FORD ANNOUNCES AGREEMENT TO SELL AUTOMOBILE PROTECTION CORPORATION
DEARBORN, Mich., March 2, 2007 - Ford Motor Company (NYSE:F) announced today
that it has entered into a definitive agreement to sell Automobile Protection
Corporation (APCO) to Trident IV, L.P., a private equity fund managed by Stone
Point Capital LLC. This transaction is the result of the review of strategic
options for the business announced by Ford on October 11, 2006.
The sale is expected to close during the second quarter and is subject to
customary closing conditions, including applicable regulatory approvals. Terms
and conditions specific to the agreement are not being disclosed at this time.
APCO, a wholly owned subsidiary of Ford Motor Company, was purchased by Ford
Motor Company in July 1999. APCO offers vehicle service contracts and related
after-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 billion
in committed capital to make investments in the global insurance and financial
services industries.
Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures and distributes automobiles in 200 markets across six
continents. With about 300,000 employees and more than 100 plants worldwide, the
company's core and affiliated automotive brands include Aston Martin, Ford,
Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related
services include Ford Motor Credit Company.
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This information is provided by RNS
The company news service from the London Stock Exchange
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