Jaguar And Land Rover: 100% Owned By Tata

Tata Motors bought the entire rights for the Jaguar Land Rover brands from Ford Motor Company for a net deliberation of a massive US $2.3 billion. The big deal was announced last March 26, in an all-cash business deal. Ford has thrown in approximately US $600 million to the Jaguar Land Rover pension plans. The 2^nd of June marked the completion of Tata’s acquisition of Jaguar and Land Rover.

According to reports, Chairman of Tata Sons and Tata Motors, Mr. Ratan N. Tata, was in attendance at the handing over ceremony held at the head quarters of Jaguar Land Rover at Gaydon in the UK next to Mr. Don Leclair, the Executive Vice President and Chief Financial Officer of Ford Motor Company, and Mr. Lewis Booth, Executive Vice President of Ford Motor Company, who has accountability for Ford of Europe, Volvo and Jaguar Land Rover.

 “This is a momentous time for all of us at Tata Motors. Jaguar and Land Rover are two iconic British brands with worldwide growth prospects. We are looking forward to extending our full support to the Jaguar Land Rover team to realise their competitive potential. Jaguar Land Rover will retain their distinctive identities and continue to pursue their respective business plans as before. We recognise the significant improvement in the performance of the two brands and look forward to this trend continuing in the coming years. It is our intention to work closely to support the Jaguar Land Rover team in building the success and preeminence of the two brands,” Mr. Tata comments on the occasion.

11:02 - Monday, June 2, 2008