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
Peter Bjorn and John Peter Bjorn and John Peter Bjorn and John are a Swedish indie pop/rock band, formed in Stockholm in 1999 and named after the first names of the band's members: Peter Morén (vocals, guitar and harmonica), Björn Yttling (bass guitar, keyboards and vocals) and John Eriksson, known in his solo work as Hortlax Cobra (drums, percussion and vocals). Yttling also worked as producer for the band's first four albums. They are best known for the 2006 single "Young Folks", which featured Victoria Bergsman, formerly of The Concretes, and was a top 20 hit in the UK Singles Chart, as well as