Tatas take over Jaguar, Land Rover for $2.3 bn
Indian Express — March 27, 2008

The Tatas today acquired luxury auto brands — Jaguar and Land Rover — from Ford Motor for $2.3 billion, stamping their authority as a takeover tycoon.

Beating Mahindra and Mahindra for the prestigious brands, just a year after acquiring steel giant Corus for $12.1 billion, Tatas today announced the deal they signed with Ford, which on its part would chip in $600 million towards JLR’s pension plan.

“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business,” group chairman Ratan Tata said after making the deal public.

“We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact,” he said.

As part of the transaction, Ford will continue to supply Jaguar and Land Rover for differing periods with powertrains, stampings and other vehicle components.