MG Rover Group
The company was formed as part of MG Rover Group after the sale of the Rover and MG assets from BMW to Phoenix Venture Holdings for £10.00 in 2000 when BMW broke up the Rover Group. The MG Rover Group had to purchase the Powertrain business from BMW after 2000 for a separate sum of money to the £10.00 for the MG Rover business.