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Tata Motors to buy Jaguar and Land Rover for $2 Billion

Mar 26 2008, 5:00am CDT | by , in News | Cars & Vehicles

Tata Motors to buy Jaguar and Land Rover for $2 Billion
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Sources in the UK report that Indian Tata Motors is paying $2 billion for Jaguar and Land Rover. The deal is seen as a way to protect the 16,000 employees of both luxury car makers.

Ford is supposed to make the deal official today at noon in New York.Ford is also supposed to pay £300m (~$600m) into Jaguar and Land Rover pension funds. Tata apparently has the blessing of the worker Unions and is supposed to invest into Land Rover and Jaguar over the next 5 years to expand the brands.
Via BBC News.

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