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Ford has issued a press release confirming that it has sold both Jaguar and Land Rover to Tata Motors for an approximate price of $2.3 billion, which comes under some numbers as high as $2.65 billion that were being tossed around yesterday. The rumor that Ford will contribute to pension funds associated with the brands is also true, as it confirmed that $600 million will be dropped into the retirement coffers of the brands once the deal closes. It is, of course, subject to regulatory approval in

According to numerous published reports today, Ford is expected to announce within days that India's Tata Motors will be the preferred bidder for the Jaguar and Land Rover brands. Assuming this happens, look for Tata to pay Ford up to $2 billion USD for the pair of iconic British marques. As has already been reported here and elsewhere, the British labor unions have come out in support of the Tata bid, and the Indian company also has Fiat lined up to help show it the ropes when it comes to manag

Ford is working hard to unload Jaguar and Land Rover, and unlike Aston Martin deal, the Oval wants to be completely out. While Ford kept a small stake in Aston just like Daimler did with Chrysler, whoever buys the other two British brands will have to take everything.

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