Tata Group drives off with Jaguar and Land Rover brands

摘要

India's Tata Motor, part of Tata Group, has entered into a definitive agreemer with the Ford Motor Company for the purchase of Jaguar Land Rover (JLR), comprising brands, plants and intellectual property rights. Tata Motors says it expects to close the deal by the end of the next quarter, subject to regulatory approvals. The total amount to be paid in cash by Tata Motors will be approximately 2.3 billion dollars, with Ford contributing up to some 600 million dollars to the JLR pension plans. JLR makes around 140,000 vehicle annually, all in the UK where it employ 16,000. Last year Jaguar lost about 550 million dollars and Land Rover is said to have made a profit of about 1.2 billion dollars; a combined profit of about 650 million dollars.