Ford sells Jaguar and Land Rover brands to Tata

[shetuck]

Reuters: Ford sells Jaguar/Land Rover to Tata

Not really shocking, since talk of this deal has been "out there" for several months, but now it sounds like it's finally done. Add it to the "How The Mighty Have Fallen (yet again...)" file.

Ford sells Jaguar/Land Rover to Tata: source
Tuesday March 25, 2:37 pm ET

By Pete Harrison and Mathieu Robbins

LONDON (Reuters) - U.S. automaker Ford (NYSE:F - News) has agreed to sell its luxury brands Jaguar and Land Rover to India's Tata Motors (Bombay:TAMO.BO - News) for more than $2 billion, according to a source familiar with the matter.

Ford, which signed the deal on Tuesday, plans to publicly announce the transaction in New York at 8:00 a.m. EDT on Wednesday, said another source.

The deal will also see Ford pay about 300 million pounds ($598 million) into Jaguar and Land Rovers' pension funds, according to unions.

Ford declined to comment, adding "our first responsibility is to communicate with our employees."

The sale had been expected at the start of this month, but it was delayed as the two firms discussed their future relationship, including technology sharing and Ford's provision of engines and body parts for the two brands.
Tata, India's top vehicle maker, has been in talks with Ford since it was chosen as the frontrunner to buy Jaguar and Land Rover a few days into 2008.

cont'd...

 

[FCollinsBuckeye]

This is a big boost to Tata's international exposure and should help them rack up big sales in Europe and the States. Thanks for keeping us abreast of the sale, shetuck.

 

[shetuck]

This is a big boost to Tata's international exposure and should help them rack up big sales in Europe and the States. Thanks for keeping us abreast of the sale, shetuck.

Tata is absolutely HUGE and eating up everything in sight. They're the next GE...

 

[sandgk]

Can Indians Solve Mystery of Bad British Automobile Wiring?

this and other news at 11 on CNBC.

 

[shetuck]

Can Indians Solve Mystery of Bad British Automobile Wiring?

this and other news at 11 on CNBC.

Ralph from Dell Tech Support now runs Tata's call center. He can solve any problem. Does clarity drive a Land Rover by chance?

 

[Mike80]

Tatas are absolutely HUGE

Where?!?!? :p

 

[Taosman]

Can Indians Solve Mystery of Bad British Automobile Wiring?

this and other news at 11 on CNBC.

"Lucas Electric, the Prince of Darkness". That was a while ago, and they have made great improvements across the board in quality.
But. What now? I think they continue to struggle.
Maybe go completely out of business.

Nothing like the smell of a Jaguar interior! Pure automobile sex!

 

[shetuck]

Can Indians Solve Mystery of Bad British Automobile Wiring?

this and other news at 11 on CNBC.

"Lucas Electric, the Prince of Darkness". That was a while ago, and they have made great improvements across the board in quality.
But. What now? I think they continue to struggle.
Maybe go completely out of business.

Nothing like the smell of a Jaguar interior! Pure automobile sex!

Jaguars have wiring? :p

 

[Mr_Burns]

So you're telling me that when hot girls in jags or land rovers drive by, we can say "Nice Tatas!" without getting smacked by girlfriends/wives?

 

[MililaniBuckeye]

Tata is absolutely HUGE and eating up everything in sight. They're the next GE...

I heard they're the world's largest manufacturer of slupee machines...

 

[BB73]

Nothing like the smell of a Jaguar interior! Pure ... sex!

I'm impressed that you got your nose close enough to experience that.

 

[shetuck]

I heard they're the world's largest manufacturer of slupee machines...

birdie num num...