Jaguar Land Rover to Be Sold

Jaguar Land Rover to Be Sold

Easton, Peter

Ford Motor Co. has agreed to sell its Jaguar Land Rover operations to India-based Tata Motors.

The transaction is the culmination of Ford’s decision last August to explore strategic options for the Jaguar Land Rover business, as the company accelerates its focus on its core Ford brand and “One Ford” global transformation.

The sale is expected to close by the end of the next quarter and is subject to customary closing conditions, including receipt of applicable regulatory approvals.

The total amount to be paid in cash by Tata Motors for Jaguar Land Rover upon closing will be approximately $2.3 billion U.S. At closing, Ford will then contribute up to approximately $600 million to the Jaguar Land Rover pension plans. P.E.

Copyright American Society of Mechanical Engineers May 2008

Provided by ProQuest Information and Learning Company. All rights Reserved