Mar 26 2008
Ford sealed Jaguar-Rover deal to Tata!
British Car Company Ford Motors has confirmed to sale his two brands- Jaguar and Land Rover (JLR) to Auto major Tata Motors Company. The deal is finalized at an estimate to be valued between $2-2.5 billion.
As told by the sources, the deal was signed last evening and formal announcement will be made in the evening today.
All the crucial issues are discussed and agreed by both the parties last week. The reason behind the delay in the announcement is that Jaguar workers were on leave. The deal has taken almost nine months to finalise as both Ford and Tata and their financiers sought to iron out issues seen as crucial to the future of the two British marques.
When contacted a Tata Motors spokesperson said the company would make an announcement at an “appropriate time”. Ford on the other hand has been insisting that they would make public the deal only after it has informed its employees.
