Following the collapse of MG Rover Group in 2005, Nanjing Automobile Corporation (NAC) acquired the MG marque, the Longbridge plant and its production tooling for £53 million ($97 million), outbidding the larger SAIC Motor, which also sought the acquisition.[6][7] While SAIC managed to obtain the intellectual property rights for the Rover 75 and Rover 25 models, it was unable to secure the Rover trademark, which was purchased by Ford from BMW in 2006.[8] Eventually, SAIC established the Roewe brand to produce and market the former Rover vehicles in China.  NAC formally established NAC MG UK Limited as the UK-based holding company for the plant and marque on 12 April 2006. Production of MG vehicles such as the MG TF, MG3 and MG7 restarted in China on 27 March 2007 at an NAC facility in Nanjing.[10][11] At the Longbridge plant, production of the MG TF LE500, MG TF135 and MG TF 85th Anniversary resumed in August 2008.