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
Phoenix Towers Phoenix Towers The Phoenix Towers were designed by Ralph C. Harris and built by Del E. Webb in Modern Movement style. The buildings, completed in 1957, are located a mile and a half north of downtown Phoenix at the corner of Central Avenue and Monte Vista Road. The main building is 14 stories with four wings forming an X. "Towers" may be misleading, as there is only one high-rise building, but 2 of the wings are much larger than the other two, giving an appearance of separate buildings. The other building included in the National Register of Historic Places site