Tata finally buys Jaguar for a bargain £1.15 billion

After months of speculation and negotiations, Tata the Indian auto manufacturer, has agreeed a deal with Ford to buy the Jaguar brand.

Tata, India’s biggest car maker, is paying $2.3 billion for both the Jaguar and Land Rover brands and the deal will be completed by the summer barring any problems with regulatory approval.

Over 16,000 people are employed under the Jaguar and Land Rover marques in the West Midlands and Merseyside and this new deal could prove invaluable in securing the future of those jobs as Tata have promised that no significant changes will be made to their current terms and conditions.

Ford boss Alan Mulally said ” Now, it is time for Ford to concentrate on integrating the Ford brand globally”.

A spokesman for the Indian firm said “We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business, We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.”

With the new Jaguar XF receiving rave reviews from media across the world this could be a a good move for Tata.