Tata, Ford seal Jaguar-Land Rover deal: NDTV

25 March 2008

Mumbai: Tata Motors has sealed a deal to acquire Ford Motor Co's UK luxury brands Jaguar and Land Rover for $2.65 billion, NDTV news channel reported, citing unnamed sources.

The two companies, after completing final details of the deal on Monday, were expected to announce the deal on Wednesday, sources close to the negotiations said.

The announcement was expected to coincide resumption of work at Jaguar and Land Rover plants where employees were on Easter vacation, the source added.

A spokesman of the Tata Group, however, said discussions were still going on and the company had no comments on the deal.

"We have nothing to tell you now," he said.

Tata Group chairman Ratan Tata and Tata Motors managing director Ravi Kant are scheduled to hold a media conference on the company's pick-up trucks at the Bangkok auto show on Thursday.