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Moneycontrol > News > Business

Dec 11, 2008, 01.36 PM IST

Acquisition of Jaguar, Land Rover complete: Tata Motors

Tata Motors says the acquisition of Jaguar, and Land Rover is complete, reports CNBC-TV18. JLR's David Smith would continue as CEO post the takeover by Tata Motors.

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Acquisition of Jaguar, Land Rover complete: Tata Motors

Tata Motors says the acquisition of Jaguar, and Land Rover is complete, reports CNBC-TV18. JLR's David Smith would continue as CEO post the takeover by Tata Motors.

A consortium of banks has completed the formalities for raising the USD 3 billion. A major portion of the funds would come from Asia and UK markets through bridge loans.

Also Read: JLR deal to increase Indian auto cos stature: Bharat Forge

Earlier, Tata Motors had entered into agreement with Ford to buy JLR for USD 2.3 billion.

Also Read: Tata Motors-JLR deal: Prestige booster or financial gamble?

Also Read: Tata Motors ties up $3 bn in bridge finance to fund JLR buy

Also Read: Let JLR operate independently: Top Gear to Tatas

Also Read: Ind cheers Tata Motors-JLR deal but differ on road ahead

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