No final decision on JLR sale: Ford

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Ford has clarified that there has been no final decision taken yet on the Jaguar-Land Rover sale, reports CNBC-TV18. Ford added that they expect to finalise the agreement on JLR sale early next year. Ford was responding on New Zealand media reports of the sale of Jag-Land Rover business.

Ford continues to explore in greater detail the potential sale of the combined Jaguar and Land Rover business with interested parties.

There have been international media reports of Ford having already sold its marquee brands Land Rover and Jaguar . In an interesting development on the Jag-Rover race, Ford has reportedly sold British marques Jaguar and Land Rover.

The deal was done a few days ago but won't be announced until February. The likely buyer is Tata , the giant automotive company in India. Tata wants to become a major global name and is looking for a European vehicle development centre. Ford earlier sold the other famous British nameplate, Aston Martin , to British-Kuwait interests. Also, Ford now apparently wants to hang on to Volvo.

CNBC TV18 correspondent Swati Kandelwal reports that New Zealand's daily has put on its website that "Ford has reportedly sold British marques Land Rover and Jaguar. The deal was done a few days ago, but won't be announced until February. The likely buyer is Tata, the giant automotive company in India. And Tata wants to become a major global player name and is looking for a European vehicle development centre. Ford earlier sold the other famous British nameplate Aston Martin, to British-Kuwait interests. Another thing Ford now apparently wants to hang on to Volvo."

This report has come out on the website of New Zealand Herald and when we contacted Ford on the same to understand whether this news was correct, whether they would want to confirm at this stage, clearly they had to say, "We do not comment on speculation. We continue to talk to the interested parties and decision on the sale will be made latest by early next year."

So there is no confirmation yet on this report, but one will have to wait and watch what happens in the coming months.

But what is understood from the sources is that in the first week of December the parties are going to meet, the bidders are going to meet with the Ford Management Union. There will be again a meeting and hopefully before Christmas the deal will be done.

In the meanwhile, Mahindra and Mahindra Vice Chairman & MD, Anand Mahindra declined to comment on the issue.