Ford completes the £1.7 billion deal to sell British icons Jaguar and Land Rover to Tata. BBC News has that story.
Ford has completed the sale of its Jaguar and Land Rover businesses to Indian conglomerate Tata in a deal valued at £1.7bn.
The companies are being sold for £1.15bn with Ford paying £600m into the pension fund of the luxury brands.
The negotiations started last June and the deal was announced in March.
Ford is selling the firms to try and boost overall performance. Land Rover remains profitable but Ford has never made money from its Jaguar investment.
And for a story on India Inc’s global acquisition spree, read this story in The Economic Times here.
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