Tata Motors completes acquisition of Jaguar & Land Rover

Mumbai, 02 June 2008: Tata Motors Ltd, said today that it had complete the $2.3 1000000000 acquisition of Jaguar and Land Rover, adding the wealth brands to a line-up that also includes the low-cost Nano.

The all-cash deal, which was united in March, includes every needed highbrowed concept rights, manufacturing plants, digit modern organisation centers in the U.K and a worldwide meshwork of income companies, Tata Motors said in a statement.

The brands were bought from Ford Motor Co, which has contributed most $600 meg to the Jaguar and Land Rover grant plans, and long-term agreements hit been entered into for the cater of engines, stampings and another components.

“Jaguar and Land Rover are digit iconic nation brands and module keep their characteristic identities and move to oppose their individual playing plans as before,” Chairman Ratan Tata said in the statement.

“We discern the momentous transformation in the action of the digit brands and countenance nervy to this way continuing in the reaching years.”

David Smith, the performing Chief Executive of Jaguar and Land Rover, module be the newborn Chief Executive .

Tata Motors terminal hebdomad said it would improve up to $1.7 1000000000 from threesome rights issues to support money the acquisition. On termination of these issues, it would also improve a boost $500 - $600 meg from an foreign justness issues.

The consort is regular to move commerce its Nano, in Bharat after this year.

The Ford Motor Credit Company module move to wage direction for Jaguar Land Rover dealers and customers for a period, and Tata Motors said it was in modern negotiations with machine direction providers in the U.K, aggregation and the United States.

Tags: amp land, auto finance, british brands, chairman ratan tata, david smith, equity issues, finance providers, ford motor, ford motor credit, ford motor credit company, intellectual property rights, land rover dealers, luxury brands, manufacturing plants, overseas equity, pension plans, stampings, tata motors ltd, term agreements, worldwide network

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