Jaguar & Land Rover $ 2.3 billion and easy main India's Tata Group, @

Today to get the latest reliable news that Ford Motor Company announced today that it has signed a definitive agreement for the sale of Jaguar Land Rover business to Tata Motors. The two sides signed an agreement on March 26, Ford will be about $ 2.3 billion sale of its luxury car brands Jaguar and Land Rover. Ford made a trading loss, Ford Motor Company in 1989 and 2000, has spent $ 2.5 billion and $ 2.7 billion purchase of British luxury car brand Jaguar and Land Rover, but due to years of losses, Ford has decided to to sell these two brands. In January of this year, Ford announced that the selected Tata as preferred bidder for Jaguar and Land Rover. Ford Motor Company, Jaguar Land Rover business to seek strategic solutions, the final decision of the transaction on behalf of the company since August last year. Ford is accelerating the global reform program to focus resources on its core Ford brand, called "ONE Ford".

The transaction is expected to be completed before the end of the next quarter, but also need to follow related to closing conditions, including regulatory approval.

If the transaction is to achieve a smooth, Tata Motors will pay approximately $ 2.3 billion acquisition of Jaguar Land Rover business, the Ford will be to the Jaguar Land Rover pension plans to inject 600 million dollars.

"Jaguar and Land Rover are two outstanding brand," said Alan Mulally, president and CEO of Ford Motor Company. "We believe that under the leadership of Tata Motors, the two brands will continue to carry forward the excellent product, business plan and the elite team. Ford will concentrate on integrating the Ford brand worldwide, in order to build a more powerful Ford Motor Company, and to achieve profitable growth. "

"This is a win-win agreement, to ensure the Jaguar Land Rover's management and employees can continue to pour energy on business development, to achieve optimal business results," Lewis Booth, Ford Motor Company executive vice president in charge of European operations Lewis Booth said. "I have confidence in the Jaguar and Land Rover under the leadership of the new owner will be able to continue the significant progress made ​​in recent years and product success to consolidate."

As part of the transaction, Ford will continue at various stages of Jaguar Land Rover to provide power systems, stampings and other vehicle accessories, in addition to also provide a variety of techniques, such as environmental and platform technologies. Ford is committed to provide engineering support, IT, accounting and other services, including R & D

In the interim, Ford Motor Credit Company will continue as the Jaguar Land Rover dealers and customers to provide financial services. The duration of the service will vary due to market up to more than 12 months.

Both parties believe these arrangements will support Jaguar Land Rover's current product plans, and provide space for the two brands at the same time, and independently develop their abilities in the future, to comply with the positioning of its luxury brand manufacturers.

After completion of this transaction, the transaction is not expected to have a significant impact on conditions of employment for Jaguar Land Rover existing staff.

Talk about today's agreement, "Tata Son" and "Tata Motor Company chairman Clarityne • Tata (Ratan N. Tata), said:" Jaguar Land Rover will become an important part of the Tata Motors business, we are are delighted with our great respect for these two brands, efforts will be carried forward to its brand heritage and competitiveness, while maintaining its original brand features, we support the Jaguar Land Rover business growth, hope that the management of the two brands and employees can use their extensive experience and professionalism to achieve business growth. "

Jaguar Land Rover's employees, trade unions and the British government in the whole process are timely aware of progress, but also demonstrated support for the agreement.

Jaguar Land Rover CEO Geoff the Baolai Ci, Geoff Polites said: "Ford and Tata Motors, Jaguar Land Rover management team in today's agreement are pleased our team is deeply sought the views of the agreement, I believe the agreement to meet our business needs to ensure that our brand to continue to move forward. "

"We have met with Tata Motors and the Tata Group's senior leaders," said Bao Laici. "They said to make the full confidence of the leadership team of the greatly improved performance on Jaguar Land Rover. We believe that with the new parent company to establish a strong working relationship and look forward to the Jaguar Land Rover to achieve a brighter and successful future."

Automotive World "this one comment:" The assets of non-stop easy to master, the ebb and flow of the brand, but business continues. "Around the world at any time of mergers and acquisitions. We also find that the Indian companies in recent years stepped up the pace of expansion of overseas markets, the basic approach with the Tata Group is consistent all the way to acquire overseas companies, we know that this is the most simple means of expansion in overseas markets , there is a reasonable development plan can achieve the seamless convergence, not only by the market at the same time the famous brand. In fact, a few years ago I had Lenovo's acquisition of IBM is nothing more than to adopt such a program!

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