Tata Buys Jaguar & Land Rover For $1.15billion - 26th Mar 2008 4:35pm
Originally Posted by BBC News
Car giant Ford has sold its luxury UK-based car brands Jaguar and Land Rover to Indian company Tata.
Tata, India's biggest vehicle maker, is paying $2.3bn (£1.15bn) for the British brands after months of negotiations over price and supply relationships.
The negotiations started last June when Ford announced its intention to sell the companies as a package.
Jaguar and Land Rover employ about 16,000 staff at UK plants in the West Midlands and Merseyside.
Although Land Rover remains profitable, Ford has never managed to make money from its investment in Jaguar.
Tata, India's biggest vehicle maker, is paying $2.3bn (£1.15bn) for the British brands after months of negotiations over price and supply relationships.
The negotiations started last June when Ford announced its intention to sell the companies as a package.
Jaguar and Land Rover employ about 16,000 staff at UK plants in the West Midlands and Merseyside.
Although Land Rover remains profitable, Ford has never managed to make money from its investment in Jaguar.
Let's hope the job's over in Halewood remain secure.
This should herald the eventual relaunch of the Rover brand (in the UK and Europe at least) in 2009 or 2010 if widespread reports from India are to be believed...
Nice to see an end to this saga, the deal has been in the works for months now.
BBC News Report