tata-motors-in-drivers-seat-for-jaguar-and-land-rover

Tata Motors in driver's seat for Jaguar and Land Rover

The Indian company clinches the long-running deal in which Ford will net around $1.7 billion and then continue to provide parts and technology to Tata.

By Sameera Anand

March 26, 2008

IndiaÆs Tata Motors will buy the Jaguar and Land Rover businesses from Ford Motor for $2.3 billion, subject to a post-closing adjustment whereby Ford will contribute $600 million to the pension plan of the business.

Tata Motors is buying the Jaguar and Land Rover brands, plants and all intellectual property rights related to the brands. The deal is subject to regulatory approvals and is expected to close by June 2008. Tata Motors will pay Ford $2.3 billion, but Ford will then contribute up to $600 million to the Jaguar Land Rover pension plans. Tata Motors is being advised by Citi and JPMorgan.

As part of the deal, Ford will continue to supply Tata Motors...

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