India Tata Motors Buys Jag and Land Rover
07-26-07, 03:41 AM
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India Tata Motors Buys Jag and Land Rover
India Tata Motors Buys Jaguar,Land Rover -TV
http://online.wsj.com/article/BT-CO-...AU-aut-mre-aup
http://online.wsj.com/article/BT-CO-...AU-aut-mre-aup
DOW JONES NEWSWIRES
July 26, 2007 5:12 a.m.
NEW DELHI (Dow Jones)--India's Tata Motors Ltd. (500570.BY) has acquired Jaguar and Land Rover, Indian news channel CNBC-TV18 reported Thursday, citing unnamed sources.
A Tata Motors executive however declined comment when contacted by Dow Jones Newswires.
"Tata Motors does not have any comments to make. Tata Motors does not comment on mergers and acquisitions," said Debasis Ray, head of corporate communications.
Ford Motor Co. (F), which owns the two brands, also said the report was inaccurate and that it was still evaluating options.
Tata Motors, which makes buses, trucks and passenger cars, is India's largest commercial vehicle maker by sales.
Last month, Ford hired advisors to help sell Jaguar and Land Rover, both part of its Premier Automotive Group (PAG), in a move expected to reap as much as $8 billion, according to some estimates.
-By New Delhi Bureau, Dow Jones Newswires; 91-11-2307-4020 ; chandrasekhar.jayachandran@dowjones.com
-Edited by Alpana Sarma
July 26, 2007 5:12 a.m.
NEW DELHI (Dow Jones)--India's Tata Motors Ltd. (500570.BY) has acquired Jaguar and Land Rover, Indian news channel CNBC-TV18 reported Thursday, citing unnamed sources.
A Tata Motors executive however declined comment when contacted by Dow Jones Newswires.
"Tata Motors does not have any comments to make. Tata Motors does not comment on mergers and acquisitions," said Debasis Ray, head of corporate communications.
Ford Motor Co. (F), which owns the two brands, also said the report was inaccurate and that it was still evaluating options.
Tata Motors, which makes buses, trucks and passenger cars, is India's largest commercial vehicle maker by sales.
Last month, Ford hired advisors to help sell Jaguar and Land Rover, both part of its Premier Automotive Group (PAG), in a move expected to reap as much as $8 billion, according to some estimates.
-By New Delhi Bureau, Dow Jones Newswires; 91-11-2307-4020 ; chandrasekhar.jayachandran@dowjones.com
-Edited by Alpana Sarma
Last edited by Mr. Jones; 07-26-07 at 07:31 PM.
07-26-07, 10:22 AM
#6
The report messed up. Ford denies such allegations. Hopefully, Jag and Land Rover didn't go to a lesser entity. They need to be owned by ones that are willing to resurrect their luxury and rarity.
I would rather have them be expensive and rare "exotics" like Aston or Bentleys, instead of cheapened versions for the masses...
I would rather have them be expensive and rare "exotics" like Aston or Bentleys, instead of cheapened versions for the masses...
07-26-07, 12:01 PM
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The report messed up. Ford denies such allegations. Hopefully, Jag and Land Rover didn't go to a lesser entity. They need to be owned by ones that are willing to resurrect their luxury and rarity.
I would rather have them be expensive and rare "exotics" like Aston or Bentleys, instead of cheapened versions for the masses...
I would rather have them be expensive and rare "exotics" like Aston or Bentleys, instead of cheapened versions for the masses...
Tata ownership by itself won't cheapen the brand.
Ford has a number of demands as part of the PSA - manufacturing stays in GB, protection of jobs, retaining design studies in GB,etc. In addition, buyer must adhere to this agreement to take advantage of reduced pricing for Ford sourced parts.
Don't forget Ford will continue to do business in GB and the last thing they need are negative repurcussions from the sale.
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07-26-07, 02:22 PM
#9
I'm not sure Tata would be all that bad for Jag & Land Rover. They are a massive engineering conglomerate and recently bought the Anglo-Dutch steel giant Corus for $8 billion so they seem to have no shortage of cash. They have been making cars for 50 years and had collaborations with Mercedes in the 60s and Rover in the 90s.
07-27-07, 12:28 AM
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http://www.reuters.com/article/ousiv...OM568020070719
July 19, rumors began that Tata and Mahindra were considering buying Jag and LR. I'm guessing that Indian TV station was getting ahead of themselves.
July 19, rumors began that Tata and Mahindra were considering buying Jag and LR. I'm guessing that Indian TV station was getting ahead of themselves.
