GM Inside News Forum banner
1 - 1 of 1 Posts

4,225 Posts
Discussion Starter · #1 ·
Tata Motors Wins EU Antitrust Backing to Buy Jaguar, Land Rover

April 25 (Bloomberg) -- Tata Motors Ltd., India's largest truckmaker, secured European Union antitrust approval to buy Jaguar and Land Rover from Ford Motor Co. for $2.3 billion.

The European Commission, the 27-nation European Union's antitrust regulator in Brussels, announced the approval in a statement today.

Ford, the world's third-largest automaker, on March 26 agreed to sell the two units to Tata as demand for luxury vehicles is dropping. Ford is ending its investment in U.K.-based brands as the U.S. housing slump and job losses curb sales of models such as the $80,000 Jaguar XK.

Ford bought Jaguar in 1989 for $2.5 billion and Land Rover in 2000 for $2.75 billion.
1 - 1 of 1 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.