Ford set to announce sale of Jaguar, Land Rover to Tata on Wednesday
Could the protracted sale of Jaguar and Land Rover from Ford to Tata finally be coming to an end? After learning last week that Tata has secured the financing required to make the deal possible, reports are coming from London's Financial Times suggesting that the official announcement of the sale, reportedly worth $2 billion, could come as soon as on Wednesday, when Jaguar workers return to work after enjoying their Easter holiday. This sale, of course, follows up Ford's sale of Aston Martin, leaving a lonely Volvo as the only company left of Ford's Premium Automotive Group.
Details of the deal include Tata's assurance that they will continue to buy engines from Ford for Jaguar and Land Rover and Ford's continuing to contribute to the pension fund of both marques.
[Source: Automotive News - Sub. Req.]
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