Tatas formally take over Jaguar, Land Rover | business | Hindustan Times
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Tatas formally take over Jaguar, Land Rover

business Updated: Jun 02, 2008 20:05 IST
IANS
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Tata Sons and Tata Motors Chairman Ratan N Tata on Monday formally acquired the prestigious Jaguar and Land Rover (JLR) businesses from Ford Motor Company at a ceremony in Gaydon, Britain.

The business has been acquired for a net $2.3 billion March 26 in an all-cash transaction. Ford has contributed around $600 million in the JLR pension plans, an announcement by Tata Motors Ltd said here.

Present at the ceremony at the JLR headquarters were Ford Motor's executive vice-president and chief financial officer Lewis Booth, who looks after the company's Volvo and JLR operations in Europe.