The long-running impasse regarding the future of MG Rover, Great Britain’s last independent volume automaker, came to an end with the announcement that China’s Nanjing Automobile group acquired the company’s remaining assets for circa $100 million. Rover was officially declared bankrupt last April.

Nanjing’s bid overcame offers from another, much-larger Chinese automaker, Shanghai Automotive (SAIC), plus a British consortium known as Project Kimber.

The new owners’ plan is to assemble most of the new cars in China but keep the brand’s R&D center at Longbridge, England. Nanjing is expected to kill the Rover brand in the European market, sticking just to the more traditional, sporty MG marque.

The deal could still face roadblocks as SAIC had already purchased the intellectual rights for MG Rover’s flagship sedan, the 75 - Nanjing intends to carry on production of that car’s sportier version, known as the MG ZT, and both cars share about 90 percent of their components.

(this article was taken from speedtv.com and written by Cassio Cortes)

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