The wait could be almost over - Tata Motors seems set to announce the completion of its purchase of Jaguar and Land Rover as early as next week. Indeed, sources close to the deal suggest the news is likely to break on either next Wednesday or Thursday.The announcement is being held back until after the launch of the new Fiesta at the Geneva Show press day next Tuesday. But according to a report in Automotive News Europe, British union leaders have now agreed to guarantees about the company's future made by Tata, and the way is clear for a formal transfer of ownership as soon as possible. A Ford spokesman refused to either confirm or deny that a definitive date for the announcement had been made: "our official position is that an agreement will be reached soon. We're not saying more than that at this point."
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Re: JLR announcement "next week"
It appears that Ford, in their haste to dispose of what had previously been a millstone around their necks (Jaguar), using one of their rare profitable marques as an incentive, have really shot themselves in the foot by selling these companies, when both are actually not only in the black, but have the strongest line up of vehicles in their history.
I seriously think that Ford are going to view this sale in years to come as one of their dumbest ideas ever, and that Tata, who have a proven track record in making companies both profitable, and desirable within the markets to which they are aimed, will be good news for both brands.
I'm celebrating with a curry as soon as the deal's done.
Re: JLR announcement "next week"
Those idiots at ford are selling JLR while Tata are cleverly buying JLR.
Why sell JLR in the middle of a recovery plan which will see the ne XJ, F-type and LRX launched having already launched the Freelander and XF. All these are very good cars and bound to sell well as the XF and Freelander have proven. To top this JLR are making $1.2 Billion and lost $500 million last year. Why sell marques with such a good future and a potential tie up with Fiat!
Come on Ford call off the sale!
Tata congratulations!