After 6 months of negotiations the battle for Land Rover and Jaguar has been whittled down to three serious bidders: Tata, fellow Indian car group Mahindra, and American buyout group One Equity, and Ford is likely to name Tata as its preferred bidder in the next couple of weeks.Tata will pay in the region of £1 billion for the British marques although they will still have to negotiate a seperate deal with Ford for the continued supply of their engines. A settlement will also need to negotiated with the pension trustees.
The three UK factories will remain safeguarding 15000 UK jobs, although we won't be surprised if production is slowly shifted to India.
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