Tata buys Jaguar, Land Rover for $2.3B

India's Tata Motor will finalize, in June, the much-awaited purchase of Ford's high-end  Jaguar and Land Rover operations for $2.3 billion dollars, pending regulatory approval.

Jaguar and Land Rover are part of Ford's PAG, Prestige Auto Group, which bit by bit is being disbanded.

Ford will also commit to injecting $600 million into the Jaguar and Land Rover pension funds.

As Automotive News says,

"The sale of the two European brands culminates a key part of Ford's ongoing restructuring program, which is expected to improve the company's focus on its core Ford brand."

Tags: Ford, Tata, Tata Motors, Jaguar, Land Rover

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