Tata Motors to buy Jaguar and Land Rover for $2 Billion
Posted on Wed, 26 Mar 2008 05:00:05 CDT | by Luigi Lugmayr
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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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Back to I4U News FrontpagePosted on Wed, 26 Mar 2008 05:00:05 CDT | by Luigi Lugmayr
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