John Towers (businessman) Nick Stephenson and John Edwards, Towers formed Phoenix Venture Holdings (PVH) which bought Rover Group for £10 in April 2000. In addition they also bought the Studley Castle, a conference hotel. They subsequently purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with an undisclosed sum from the Royal Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans. Kevin Howe was appointed MG Rover's Managing Director in July 2000. In April 2005, MG Rover went into administration, following the collapse of takeover talks with Shanghai Automotive
John Robin Stephenson John Robin Stephenson Lieutenant Colonel John Robin Stephenson (25 February 1931 – 2 June 2003) was a British Army officer and cricket administrator. John Stephenson was born in Sussex and educated at Christ's Hospital. He played in the School Cricket XI alongside J.A. Bailey and D.R.W. Silk in 1948. He was an excellent rugby player, representing Sandhurst, Richmond and Sussex. He also played cricket for Sandhurst and the Army. After passing out from Sandhurst, Stephenson was commissioned into the Royal Sussex Regiment, serving in Egypt, Korea, Gibraltar, Libya, Germany and Northern Ireland. He served as an instructor at the Mons