04 March 2008

Tata will buy Ford's Jaguar and LandRover for $2 billion

Ford is not going to retain any stake in Jaguar and Land Rover, and will continue to supply engines and components to the two brands for the existing model range for a period of at least five years, until the business plan that current owner Ford has drawn up for the two brands ends

Analysts have pegged the deal may cost Tata Motors about $2 billion (Rs8,060 crore). Ford bought Jaguar in 1989 for $2.5 billion and Land Rover in 2000 for $2.73 billion.

Via Mint

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