Tata Inc., the renowned name of truck and bus vehicle in Indian subcontinent is going to mark another land stone after purchasing European’s giant steel company corus that was five-time larger than Tata. Now Tata Inc. is on the climax of finalising the deal of US based global brand company ‘Ford Motors’ that manufactures and sells some prestigious brand like Lincoln, Mercury, Mazda, Jaguar and Land Rover for its last two royal marques.
The deal for purchasing two esteemed brands of Ford Motors, ‘Jaguar’ and ‘Land Rover’ is on the final stage after a nine-month long exercise and is likely to be announced by evening today. According to sources, the MoU has been singed on Tuesday night but it has not announced officially till now.
The official sources say that the announcement about the deal would go into the public after finalising the fate of cumulative 16,000 staff of both these marques planted across the West Midlands and Merseyside and to inform them about the taken decision.
However, it is expected that the deal has been finalised around USD 2-billion to 2.5-billion, while the exact amount will extracted after the official announcement of the deal.
Ford has to pay of around USD 600-million of pension deficits of its massive staff across the West Midlands and Merseyside of its Jaguar and Land Rover brand as the part of the deal and it is expected that Tata has to assure the Ford about secure future of the employees of both the brands.
Land Rover, which models include the Range Rover, Freelander and Defender, is based at Solihull in the West Midlands started business in 1948 while Jaguar, which makes the X-type, the XJ, XF series, E-type and S-type has plants at Castle Bromwich in the Midlands and at Halewood on Merseyside began it business in 1945. Both these brands are known as legendary British Brand, but US Company has purchased both these brands in 1989 in worth USD 4.5-billion.
Earlier, Mahindra & Mahindra was also in the race for purchasing these brands with Tata, but the Unite, the main trade union of Jaguar and Land Rover preferred Tata by viewing its global image that was marked after finalising the Corus deal.
Tata Motors is the biggest truck and bus manufacture of India and has captured more than half of the sub-continent's truck market. Besides, it has about 20% of India's car market for it’s only two brand, Tata Indica and Tata Indigo, whereas it has near to introduced world’s chipset car ‘Nano’ which is likely to sell in the market at just $2500.
On the other hand, the starting price for Jaguar's latest sports car, the XF is more than $64,000. So, after completing the deal Tata will attach two precious stones on its unofficial crown.
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