TATA goes International Again

After months of speculation, Tata Motors has closed the Jaguar – Land Rover deal at $2.65 billion. The deal is expected to be signed later in the evening today in London.
Sources said that industry experts have viewed this as an expensive deal.
Earlier, scotching rumours of outsourcing, Tata is said to have assured Unite that it will keep all three of Jaguar and Land Rover's British plants at Solihull and Castle Bromwich in the Midlands and Halewood on Merseyside.
While Unite represents some 12,000 Ford workers, Dodgson said the total number of jobs at stake could be anywhere between 35,000 and 40,000 when ancillaries are taken into account.
Ford acquired Jaguar for $2.5 bn in 1989 and Land Rover for $2.75 bn in 2000 but put them on the market last year after posting losses of $12.6 bn in 2006 - the heaviest in its 103-year history.
Tata was named by Ford as the preferred bidders after it beat off competition from fellow Indian competitor Mahindra and Mahindra and an American buy-up specialist One Equity, headed by former Ford chief executive Jacques Nasser.

Source: NDTV
TATA goes International Again TATA goes International Again Reviewed by Bobby on 9:07 PM Rating: 5

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