Breaking: Tata finalizes deal to buy Jaguar/Land Rover for $2.3B

[RB TexLa]

by Penny MacRae 15 minutes ago

NEW DELHI (AFP) - India's Tata Motors has reportedly clinched a deal to buy British luxury icons Jaguar and Land Rover from US carmaker Ford, with an official announcement expected later on Wednesday.

The multi-billion dollar deal comes as Tata looks to gain a foothold outside the subcontinent, but analysts question how the Indian firm -- maker of the Nano, the world's cheapest car -- will absorb the two high-end marques.

The deal has been estimated at up to three billion dollars but most reports have put the price tag at around two billion dollars. A company official said the deal would be formally announced later in the day.

But the sale of two of Britain's most storied industrial firms was confirmed by Tony Woodley, joint leader of Britain's biggest union Unite, which had supported India's top vehicle maker in its bid.

http://news.yahoo.com/s/afp/20080326/wl_sthasia_afp/usindiabritainautocompanyfordtata_080326114649

[DemoTex]

1. Tata making jags and Rovers? Tell me this is an Onion article!

:rofl:

[jakefrep]

2. Well, Tata needs the technology...

..to build the forthcoming Tata Bodacious.