Business Daily from THE HINDU group of publications
Wednesday, March 26, 2008 ePaper | Mobile/PDA Version
|
Business Daily from THE HINDU group of publications Wednesday, March 26, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
||
|
News Update as at 18.00 hrs (IST)
Corporate Tatas gets JLR for $2.30 billion LONDON: Creating history, India's top corporate Tatas on Wednesday acquired luxury auto brands _- Jaguar and Land Rover _- from Ford Motor for $2.3 billion stamping their authority as a takeover tycoon. Beating compatriot Mahindra and Mahindra for the prestigious brands, just a year after acquiring steel giant Corus for $12.1 billion, Tatas today announced the deal they signed with Ford, which on its part would chip in $600 million towards JLR's pension plan. The deal was announced after protracted negotiations that Tatas had with JLR union workers. "We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business," the Group Chairman Mr Ratan Tata said after ma king the deal public. "We have enormous respect for the two brands and would endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact," he said. - PTI
Prev: Maruti launches Swift Dzire Business Line | NUS Index | |
Related Topics Alliances & Joint Ventures Announcements Auditing Awards & Honours Bonus Announcements Company Law Corporate Bonds Corporate Disputes Corporate Governance Courts/Legal Issues Diversification Environment Human Resources Interview IPOs IPR Management Mergers & Acquisitions New Projects Open Offers Outlook Outsourcing Overseas Borrowings Overseas Investments People Performance Preferential Allotments Private Placement Regulatory Bodies & Rulings Research & Development Restructuring Rights Issue Sick Units Society & Development Standards & Benchmarks Taxation Trade & Labour Unions |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line
|