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National DigestPublished 03/26/08
Tata buying Jaguar and Land Rover
DETROIT - Ford Motor Co. is selling its storied Jaguar and Land Rover brands to India's Tata Motors Ltd. in a deal that will net the U.S. automaker $1.7 billion - roughly a third of the price it paid for the two luxury brands.
The deal announced today will expand the Indian carmaker's reach around the globe and give Jaguar and Land Rover badly needed capital to update and expand their product lines. Tata will pay $2.3 billion for the British brands, but Ford will pay about $600 million into the Jaguar-Land Rover pension fund when the deal closes, Tata's statement...
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