12:58pm UK, Friday July 22, 2005

One of the consortiums hoping to take over MG Rover has revised the offer its making to the administrators of the company.

The Kimber group, headed by businessman David James, has tabled what it describes as an unconditional bid for all the assets of MG Rover and engine maker Powertrain.

180 MG Rover entrance to Longbridge factory

New offer involves all assets

Previously, Mr James was only interested in the MG sports car business and/or Powertrain. The revised bid is believed to be worth around £25m.

It is estimated that it would protect around 1,000 jobs.

Earlier in the week Mr James made two offers - one of them for the MG sports car brand and the means to build "niche" cars under contract to other manufacturers.

That would be worth some £20m and involve around 500 jobs initially - possibly rising to 2,000.

The alternative bid covered the Powertrain engine business in addition.

He also offered the services of some of his experts to help sell the remaining assets to other interested parties - assets he is now aiming for himself.

Two Chinese firms have also made bids for the business, which are now being considered by administrators PricewaterhouseCoopers.

MG Rover collapsed in April with the loss of thousands of jobs after a hoped-for deal with China's Shanghai Auto Industry Corporation fell through.

Ironically, SAIC is now one of the companies making offers.

MG Rover creditors are said to be owed a total of £1.4bn but PwC has already warned them they can expect only a few pence in the pound.