Tata Motors has acquired Jaguar Land Rover in a deal valued at $2.3 billion, which includes brands, plants and IPR.

Announcing the deal, Chairman Ratan Tata said,

“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business”

The ownership transfer is expected to be completed around June. Ford, on their part, are expected to contribute around $600 million to the JLR pension plans.  Th

Ford will continue supply of powertrains, stampings and other vehicle components, in addition to a engineering, technological and research support. Their financing arm, Ford Motor Credit Company will provide financing for Jaguar and Land Rover dealers and customers for around a year.

 

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