Tata all set to drive off with Jaguar
17 Dec 2007, 0428 hrs IST,REUTERS
LONDON: Ford Motor Co is poised to name Tata Motors as preferred bidder for its Jaguar and Land Rover brands, Sunday Times newspaper reported.
An announcement could come in the next fortnight, with Tata expected to pay about 1 billion pounds ($2 billion), it added.
Ford, which is spinning off the British luxury marques to focus on restructuring its loss-making North American operations, said last week that it aimed to complete the sale in early 2008.
Tata is competing in the auction for the luxury brands with rival Indian group Mahindra & Mahindra and private equity firm One Equity Partners.
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