Ford Agrees on Selling Jaguar and Land Rover to Indian Tata Motors

According to a report from Reuters, Ford Motor Company has agreed to sell its luxury brands Jaguar and Land Rover to India's Tata Motors for more than $2 billion. Although the deal was reportedly signed today (Tuesday, March 25, 2008), sources state that FoMoCo plans to publicly announce the transaction which will also see it pay approximately 300 million pounds ($597.7 million) into the European units' pension fund, in New York on Wednesday at 8:00 a.m. EDT. -Pic: Carscoop

Via: Reuters