Monday March 24, 07:47 PM
Ford to announce sale of Jaguar, Land Rover for $2B to Tata on Wed. -- report
NEW YORK (Thomson Financial) - Ford Motor is expected to announce the sale of its Jaguar and Land Rover brands to India's Tata Motors Ltd. on Wednesday for about $2 billion, according to a published report.
The sale agreement
is expected to include a pledge by Ford to contribute to the two businesses' pension funds, and for Tata to continue to buy engines from Ford, the Financial Times reported.
Italy's Fiat SPA (Milan: F.MI - news) is interested in working with the companies if the sale to Tata goes through, the report said.
Ford's stock was up 5.8% at $5.95 in late-afternoon trading, and hit a 2-week high of $6.02 in intraday trading
Tomi Kilgore
tk1/tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
Send Article by Email
