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 in 1988 in an effort to improve the club's image and he introduced guided tours at Lord's in 1989, which were popular. He retired in 1993 and was succeeded by Roger Knight. In 1994, he was promoted civil CBE for "services to cricket". Stephenson married Karen Margrethe Koppang in 1962. The couple had a son and two daughters. He died at Salisbury, Wiltshire from a stroke in 2003, aged 72. 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